By the first quarter of 2026, Ethereum mainnet transaction volume has shown a clear U-shaped recovery and strong growth trend. In Q1 2026, the Ethereum mainnet processed 200.4 million transactions, surpassing the 200 million mark for the first time in a single quarter, a significant 43% increase from Q4 2025's 145 million transactions. Daily transaction volume also hit a record high of 2.2 million in December 2025.

This remarkable growth is mainly attributed to the continued prosperity of Layer 2 networks and the increased penetration of stablecoin payments. Layer 2 networks like Base and Arbitrum handle massive transaction volumes and efficiently settle them on the Ethereum mainnet, serving as the core drivers of on-chain activity.

Additionally, Ethereum's two major technical upgrades in 2025 played a crucial role. The Pectra upgrade in May laid the foundation for future scalability, while the Fusaka upgrade in December increased the block gas limit from 45 million to 60 million, directly boosting network capacity. These upgrades worked synergistically to reduce the average transaction fee to a historic low of about $0.17, greatly stimulating on-chain activity. #Gate广场五月交易分享