Ethereum’s base layer processed approximately 2.9 million transactions on January 16th, an all-time high for a single day.
This data can be seen in the Token Terminal graph below.
This record does not occur in isolation. Transactions on Ethereum have been on the rise since December when the network reversed Monthly decline that has continued since August.
This change in trend signaled the beginning of a sustained recovery in activity. in chains, It has now consolidated into a new historical maximum.
Overall, Ethereum’s historic high in daily transaction value is all the more significant as it coincides with record levels of staking and an upward trend in Ethereum (ETH) price since November 17th. It was trading around $2,600 at the time and is now over $3,300.
In this context, a more used network strengthens the structural demand for fee-paying assets, strengthens the attractiveness of staking as a source of revenue, and reduces the available liquid supply. These factors combine to These help support the value of Ether in the market.
Minimum charge next to activity record
On the Artemis site, check the data in the token terminal. In parallel with the historical maximum of transactions, Fees paid by users are at historic lows.
This scenario reduces usage barriers for decentralized applications and end users, and limits cost pressures on users interacting with the base layer.