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- Ethereum recorded 1.75 million transactions on June 25, the third-highest daily count in its network history.
- Long-term users keep staking and accumulating Ethereum, while Layer 2 networks process massive daily traffic.
Something is moving on the Ethereum network, and it’s not just any ordinary movement. While ETH’s price itself is still looking uncertain in the market, the network is actually seeing a spike in activity that could be described as… quite extraordinary.
On June 25, Ethereum recorded 1,750,940 confirmed transactions in a single day. This is the third-highest number in Ethereum’s history, according to on-chain analyst Carmelo Aleman of CryptoQuant. This is a sign that the network is still busy, even when the price chart is not attracting attention.
Activity Rises Again as Ethereum’s Core Usage Surges
The last time a spike like this happened was in early 2024, on January 14, when Ethereum recorded a record of over 1.9 million transactions. Activity has since slowly declined. But now, the on-chain chart refuses to stay silent. While investors wait for an unclear price direction, the Ethereum network is speaking loudly through its transaction count.
According to Aleman, the “Ethereum: Transaction Count (Total)” metric covers everything—from regular ETH transfers, smart contract executions, to interactions with DeFi and DApps. That means the numbers truly represent the pulse of the network. And it is picking up again. Unlike the short-lived euphoria, this surge actually comes after a long decline that lasted for months.
Interestingly, Ethereum is not only showing a surge in transactions in terms of volume. CNF previously reported that the network recorded 1.45 million daily transactions in a stable trend, even when the first two-week death cross since 2022 emerged as a bearish technical signal. At first glance it sounds scary, but the strong volume and growing inflows actually give hope for a potential recovery.
So, what is really driving this surge? Judging from the price movement of ETH over the past month, which has swung between $2,111 and $2,879, up 36.39%, many parties—especially active traders and arbitrage bots—are likely to continue adjusting their positions.
This creates heavy traffic on the network. Not only that, but DeFi protocols also appear to be more active. All of this happens behind the scenes, while the price chart looks like it doesn’t budge.
Staking Confidence Grows While Price Action Lags Behind
On the other hand, our previous report showed that ETH staking volume and the number of wallets accumulating are actually at record highs. This means that many users seem to have a long-term view on ETH, no matter how shaky its price is right now. They continue to accumulate. And usually, this is not a whim, but a belief in the future direction of the network.
Meanwhile, Layer 2 networks like Arbitrum and Optimism are not sitting idle either. They help process a large portion of daily Ethereum transactions, reinforcing the idea that the network is not losing its function. It can be said that Ethereum remains the backbone of the crypto ecosystem—even if it is not showing much of a presence on the price charts at the moment.
So, even though altseason is yet to arrive and ETH is still showing no strength in the market, the Ethereum network does not seem to be running out of steam. In fact, it may be quietly laying the foundation for the next surge.
