The Ethereum Ecosystem was prominent in a record month in August. Ethereum’s on-chain adjusted transfer volume exceeded $320 billion, reaching its highest level since May 2021. This represents the third largest monthly volume in Ethereum history.
Ethereum Network Transaction Volume exceeds $320 billion in August: the highest level since 2021
Data covers not only transfers, but also defi interactions and other blockchain-based transactions. The 30-day transaction count also reached a new high in August, but the active ETH address reached its second highest. The total value of Ethereum is locked (TVL) also remains near historic highs.
The impact of institutional investors is a major factor in this increase. Publicly available companies’ ETH reserves rose from $4 billion at the beginning of the month to $12 billion. In particular, I bought a lot of Bitmine Immersion and Sharplink games. Spot ETH ETF trading volume and net inflow also accelerated over the same period.
Ethereum transaction fees have fallen to their lowest levels in five years. The 2024 DENCUN update (EIP-4844) reduced the cost of rollups, but this year’s Pectra upgrade focused on account abstraction and improving user experience.
Balidator Exit requests hit a record high in August, but entry requests also reached two years’ highs. Experts have flowed into fluid retching protocols that much of the move is funding.
Meanwhile, ETH prices have been trading at $4,337 after a recent revision, 12% below their peak.
*This is not investment advice.
