Market Overview
The cryptocurrency market experienced a sudden downturn, with Bitcoin (BTC) dropping from approximately $95,000 to $92,000. This decline also impacted altcoins, as Ethereum (ETH) saw a 3.4% decrease, falling to around $3,200.
Ethereum's Record Performance
Despite the recent price volatility, Ethereum has achieved significant milestones, recording its highest-ever transaction volume while transaction fees have simultaneously fallen to historic lows. This development signifies a new and unprecedented period for the Ethereum network, characterized by robust activity and reduced user costs.
The seven-day moving average transaction count on Ethereum has reached an all-time high, approaching approximately 2.5 million transactions. This figure represents a substantial increase, nearly doubling the volume observed a year ago. This marks a sharp reversal from a gradual downward trend that had been in place since mid-2025, with the trend reversing abruptly in mid-December of the previous year.
Concurrently with the rise in transaction volume, average Gas fees have experienced a significant decline, settling at $0.15, which is historically low. Some exchange fees have even dropped as low as $0.04.
Driving Factors Behind the Growth
Several key developments are contributing to these remarkable changes on the Ethereum network. These include the successful implementation of the Fusaka hard fork, the Blob Parameters Only fork, increased adoption of stablecoins, and the expansion of staking participation.
Data indicates that stablecoin transfers now constitute approximately 35-40% of all transactions on the ETH network. Furthermore, the total amount of ETH staked has reached a new record of around 36 million ETH, representing approximately 30% of the circulating supply.
In alignment with this positive trajectory, analysts at Standard Chartered have also projected that 2026 will be recognized as the "Year of Ethereum."