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.