Ethereum ended the year at a peak of on-chain activity. According to data from The Block, the seven-day moving average of daily transactions reached 1.87 million on December 31. This exceeded the previous all-time high recorded in May 2021 during the height of the NFT and DeFi boom, as well as a more recent local peak in August 2025. Importantly, the current record does not appear to be a short-lived spike. The rise in transactions has been accompanied by sustained growth across other user metrics, pointing to deeper structural changes in how the network is being used. Beyond transaction counts, Ethereum has seen a ... (full story)