Ethereum (CRYPTO:ETH) recorded a new all-time high in daily transactions as onchain activity accelerated into the end of the year.
Data from The Block shows the seven-day moving average of Ethereum transactions reached 1.87 million on 31 December.
The figure surpassed the previous peak of 1.61 million set in May 2021 during the height of the NFT and DeFi cycle.
The latest reading also exceeded the more recent high of 1.73 million recorded in August 2025.
Active addresses on the Ethereum network climbed to 728,904, marking the highest level since May 2021.
The network also added 270,160 new addresses on 31 December, the largest single-day increase since early 2018.
Analysts attribute the surge to a combination of lower fees, higher scalability, and growing institutional interest.
The recent surge has been driven primarily by network upgrades that have slashed fees, boosted scalability, and attracted institutional participation via ETFs and real-world asset tokenisation.
Nick Ruck said.
Ethereum implemented two major upgrades in 2025 known as Pectra and Fusaka to improve network efficiency.