In early August 2025, the Ethereum network reached an important milestone. The daily volume hit 1.87 million transactions, nearly touching the historical peak of 1.96 million transactions set during the 2021 bull run. However, this surge in volume was different from previous occasions; it reflected a greater demand for real application scenarios rather than mere speculative behavior.

The significant increase in stablecoin transfers has become the main factor driving the rise in volume. Major stablecoins such as USDT, USDC, and DAI saw their trading volume surge by over 40% in just one month. Behind this phenomenon is the rapid growth of cross-border payment and business settlement demands, highlighting the practical value of cryptocurrencies in actual financial transactions.

At the same time, the increase in Ethereum staking activities and the widespread adoption of second-layer scaling solutions have made significant contributions to the rise in mainnet interaction volume. The trading activity of decentralized finance (DeFi) protocols has consequently increased, further boosting the overall activity of the network.

It is worth noting that the number of deployments of institutional-level applications has significantly increased, bringing large capital flows and frequent on-chain demand for transactions. This not only reflects the maturity of the Ethereum ecosystem but also heralds the acceleration of the integration of traditional finance and blockchain technology.

From a technical perspective, the Ethereum network performs excellently under high load, maintaining stable operation. Although Gas fees have increased, there has been a significant improvement compared to the network congestion period in 2021. The implementation of the EIP-1559 proposal has optimized the predictability of fees, providing users with a better trading experience.

The increase in volume has provided substantial support for the value of ETH. Since each transaction results in a portion of ETH being burned, this mechanism reinforces Ethereum's deflationary effect. With more applications being implemented, increased institutional adoption, and continuous technological iterations, the goal of surpassing 2 million daily transactions seems to be just around the corner.

For investors, this development trend not only signals a potential price increase, but more importantly, it highlights the important position of Ethereum as a core infrastructure of the global digital economy. This milestone achievement of the Ethereum network will undoubtedly further consolidate its leading position in the blockchain and cryptocurrency fields.