The Ethereum network, the second-largest cryptocurrency by market capitalization, has reached a new all-time high in transaction volume. Meanwhile, user fees have dropped to record lows.
The seven-day average of transactions has approached 2.5 million, double the figures from last year. A sharp increase in on-chain activity began in mid-December following a prolonged decline.
Despite the load, the average gas cost fell to $0.15. Etherscan data shows even lower figures: token swaps cost approximately $0.03.
Recent technical upgrades have enhanced the network’s scalability:
- In early December, developers activated the Fusaka upgrade;
- On January 7, the Blob Parameter-Only fork occurred, increasing the limit of BLOB objects in a block from 15 to 21.
Stablecoins also support blockchain demand. Standard Chartered Bank noted that they account for up to 40% of all transactions. Jeffrey Kendrick, head of digital asset research, has already dubbed 2026 the “year of Ethereum.”
Interest in passive income is rising concurrently: 36 million ETH is locked in staking (30% of market supply). The queue to launch validators has exceeded 2.5 million coins, the highest since August 2023.
Earlier, Ethereum co-founder Vitalik Buterin stated that in 2026 the community will focus on privacy protection and user autonomy. According to him, the project will no longer compromise for mass adoption.