Ethereum daily transactions hit all-time high, surpassing 2021 NFT boom

The number of daily transactions on Ethereum surged to a new all-time high, alongside notable increases in the number of new and active addresses, data shows.

According to The Block's data, the seven-day moving average of transactions on the Ethereum network reached 1.87 million on Dec. 31. That surpasses a previous peak of 1.61 million recorded on May 10, 2021, during the height of the NFT and DeFi boom, and exceeds the more recent high of 1.73 million set on Aug. 9, 2025.

The network's number of active addresses also ended the year on a high note, reporting 728,904 — the highest level since May 12, 2021. Ethereum also recorded 270,160 new addresses on Dec. 31, marking the largest single-day increase since early 2018.

"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 tokenization," said Nick Ruck, director of LVRG Research. 

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Upgrades, more upgrades

In 2025, Ethereum went through two major network upgrades — Pectra and Fusaka — that improved scalability and efficiency.

Pectra increased blob throughput, introduced account abstraction for better wallet usability, and raised validator staking limits. Fusaka activated PeerDAS, streamlining data availability sampling to support higher blob counts without increasing node strain. These upgrades, alongside increased gas limits and zkEVM performance breakthroughs, have significantly reduced costs while advancing Ethereum's rollup-centric roadmap.

The network is set to undergo another round of major upgrades in 2026. Glamsterdam, expected in early-to-mid 2026, will focus on improving the network's overall performance and further decentralizing the network. Hegota, slated for the second half of the year, aims to enhance the network's long-term sustainability.

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"Right now, while there are clear and powerful competitors, the majority of stablecoins activity, RWAs, yield and staking protocols, even trading, gaming and NFT activity is still very much Ethereum or EVM compatible," said Justin d'Anethan, head of research at Arctic Digital. "As is often the case, when investors capitulate, become distracted or just jaded because of tame price action, a set-up for massive surprise and large allocators to play games arises. This might be happening with Ethereum."

As of 5:05 a.m. ET on Friday, ETH was trading up 2.17% in the past 24 hours at $3,044, according to The Block's price page.