Ethereum’s base layer processed nearly 2.9 million transactions on January 16, an all-time daily high. This data can be seen in the following Token Terminal graph:
Chart with the evolution of the number of daily transactions in Ethereum. Source: Token Terminal. This record does not arise in isolation. Transactions on Ethereum have been growing since December, the month in which the network reversed a streak of monthly declines that had extended since August.
This change in trend marked the beginning of a sustained recovery in on-chain activity, now consolidated with a new all-time high. Altogether, the historical maximum of daily transactions in Ethereum becomes more relevant as it coincides with staking at record levels and with an upward trend in the price of ether (ETH) since November 17, when it was trading around USD 2,600 and is currently above USD 3,300. In this context, a more used network reinforces the structural demand for the asset to pay commissions, consolidates the attractiveness of staking as a source of return and reduces the available liquid supply, factors that, combined, They can help support the value of ether in the market.
Fees at minimums next to the activity record
The Artemis site confirms the Token Terminal data. In parallel to the historical maximum of transactions, the Commissions paid by users are at historic low levels.
Image automatically translated with Google Translate. Source: Artemis. This scenario reduces usage barriers for decentralized applications and end users and limits cost pressure on those who interact with the base layer.
