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28/10/25 02:27 UTC-04

Ethereum Network Activity Hits Five-Month High

Activity on the Ethereum blockchain has surged to a five-month high, driven by renewed interest in DeFi, decentralized exchange (DEX) trading, smart contract usage, and stablecoin transfers. The number of ETH transactions has recently surpassed USDC transfers, marking a notable shift in network dynamics.

Over the past three months, daily gas consumption on the Ethereum network has reached a peak and remains elevated. Meanwhile, mainnet activity continues to climb, while usage on Layer 2 networks has declined, according to data from Grow The Pie.

The number of active Ethereum addresses has also risen to around 550,000 per day, slightly above baseline levels.

Experts attribute the growing popularity of ETH to relatively low gas fees. Currently, DEX swaps on the mainnet cost about $0.21, with gas prices below one gWei.

Tether (USDT) remains the most active smart contract, followed by Circle (USDC). The DeFi sector continues to dominate gas-burning activity, destroying roughly 48 ETH per day at typical burn rates.

Rounding out the top gas consumers are router and aggregator contracts, reflecting higher demand for decentralized trading and perpetual futures. Additional activity also stems from user identity incentives linked to Ethereum Gas NFTs.

Historically, periods of heightened network activity have coincided with bull markets, suggesting that Ethereum may be on track to retest previous all-time highs.
At the time of writing, ETH was trading at $4,200, up 3.42% from the previous day.

See also: "Bitcoin Price Today: Drops to $113.7K Amid Trump–Xi Meeting"

#Ethereum (ETH) #Blockchain

Editor: Godfrid Brower
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