As the cryptocurrency markets leave 2025 behind, there has been a remarkable development on the Ethereum network. The latest data shared by on-chain data platform CryptoQuant revealed that Ethereum has reached historical levels in transaction volume and user activity. In particular, the fact that there was no significant jump in network fees despite the increasing number of transactions stands out as the most important factor that distinguishes this rise from previous periods.
Historical Peak in Number of Transactions and User Activity
According to CryptoQuant data, the seven-day average number of transactions on the Ethereum network reached 1.87 million as of December 31, 2025. This figure far surpassed the previous record of 1.61 million recorded in May 2021 and exceeded the local peak seen in August 2025. During the same period, there was a significant increase in address activity. The number of active addresses increased to 728 thousand 904, reaching the highest level in nearly four years.
What was even more remarkable was the number of new addresses created in a single day. More than 270 thousand new addresses were recorded as the highest daily increase since the beginning of 2018. According to analysts, this chart shows that Ethereum is not only used more intensively by existing users, but also that new participation in the network is accelerating. The vitality in DeFi, NFT and stablecoin transactions is among the main dynamics of this growth.
Rising Demand, Stagnant Fees and Impact of Updates
Despite this intense activity on the Ethereum network, the relative stability of transaction fees is associated with the technical updates implemented throughout 2025. Pectra and Fusaka updates, rolled out during the year, aimed to increase the scalability of the network and reduce user costs. The Pectra update increased data capacity, increased staking limits for validators, and offered performance improvements. Fusaka, on the other hand, optimized data access with PeerDAS technology, reducing the load on nodes during peak periods.
On the other hand, the increase in corporate interest in Ethereum stands out as another factor that feeds the demand for the network. Growth in stablecoin usage, the proliferation of tokenized real-world assets, and capital inflows through exchange-traded products continue to keep Ethereum at the center. Similarly, the recent increased interest in Bitcoin spot ETFs has also brought an overall influx of liquidity into the crypto market, which has indirectly contributed to the Ethereum ecosystem.
On the developer side, all eyes are on 2026. While the planned Glamsterdam update focuses on network performance and durability, the Hegota update expected to follow will highlight long-term architectural optimization and decentralization goals.
In short, Ethereum continues to maintain its leadership with its infrastructure power and constantly improved technical structure, despite the increasing competitive environment. The fact that the record increase in transaction volume occurred without creating fee pressure shows that the network has entered a maturation process. This chart indicates that Ethereum is on its way to becoming not just a smart contract platform but the cornerstone of global digital finance.
