Ethereum’s seven-day moving average of daily transactions has climbed to nearly 2.5 million, almost double the level seen a year ago.
Network activity has accelerated since mid-December, reversing a gradual decline that began earlier in 2025.
Average gas fees have dropped to about $0.15 per transaction, marking the lowest level in Ethereum’s recent history.
Etherscan data showed some swap transactions costing as little as $0.04 over the weekend.
The combination of record activity and minimal fees marks a shift for Ethereum, which has long faced criticism over high costs.
The surge follows the December 2025 Fusaka upgrade, which introduced PeerDAS and expanded blob capacity.
A subsequent update in January increased blob targets and caps, reducing costs for Layer 2 rollups.
Ethereum’s block gas limit rose from 45 million to 60 million in late November, easing pressure on mainnet fees.
Execution shifting to Layer 2 networks has helped keep costs low despite rising overall usage.
Stablecoin transfers now account for roughly 35% to 40% of all Ethereum transactions, according to Standard Chartered.
“2026 will be the year of Ethereum,”
Geoffrey Kendrick said, citing growing network usage and efficiency.
More than 36 million ETH is now locked in staking contracts, representing about 30% of the circulating supply.
The staking entry queue has climbed above 2.5 million ETH, while exit requests have fallen to near zero.
“Every compromise of values that Ethereum has made up to this point, we are making that compromise no longer,”
Vitalik Buterin said, outlining his vision for the network’s future.
At the time of reporting, Ethereum price was $3,200.45.