In July, Ethereum's on-chain monthly volume exceeded $238 billion, rising by 70% month-over-month. This is also the highest monthly volume since December 2021, setting a new high in nearly four years. The Ethereum network's volume also reached 46.67 million transactions, setting a record for monthly volume, up 3.6% from the historical peak of May 2021. The 7-day moving average (7DMA) of the Ethereum network's transaction count is also close to the historical high, reaching 1.64 million transactions, slightly below the historical high of 1.66 million transactions in May 2021. In July, the number of active addresses on the Ethereum network was 17.55 million, the highest level since May 2021. With all the positive updates on Ethereum network metrics, the price of ETH also reached its highest point in years, valued at $3700 by the end of July.

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