Ethereum Records Busiest Quarter in History

Ethereum recorded 200.4 million transactions in Q1 2026, a 43% increase from the previous quarter and an all-time high, more than double the low point at the end of 2023.

Growth was driven by the expanding Layer 2 ecosystem and the booming stablecoin market worth nearly $164 billion, with 284,000 new users joining the network during the quarter, an 82% increase year-on-year.

Despite this vibrant on-chain activity, ETH's price has fallen 37 to 39% year-to-date due to macroeconomic pressures and persistent negative market sentiment. The upcoming Glamsterdam upgrade in mid-2026 is expected to further improve network performance, laying the groundwork for a further growth phase.

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