The market experienced a sudden drop, with Bitcoin (BTC) falling from around $95,000 to $92,000. This decline also affected altcoins, with Ethereum (ETH) dropping by 3.4% to around $3,200.
Ethereum Hits New Records While Prices Are Falling!
While the ETH price has been affected by the sharp decline, data shows Ethereum has recorded record transaction volume and transaction fees have fallen to record lows.
With this development, the Ethereum network has entered an unprecedented period where it is handling record-high transaction volumes while user costs are at historically low levels.
Ethereum’s seven-day moving average transaction count has reached an all-time high, approaching approximately 2.5 million.
This figure is almost double the level from a year ago, marking a sharp reversal from a gradual downward trend that has been ongoing since mid-2025 and abruptly reversed in mid-December last year.
While transaction volume increased, fees also saw a sharp decline. Average Gas fees fell to $0.15 (a historically low), and some exchange fees dropped as low as $0.04.
These significant changes are attributed to the Fusaka hard fork, the Blob Parameters Only fork, the adoption of stablecoins, and the expansion of staking.
According to the data, stablecoin transfers account for approximately 35-40% of transactions on the ETH network, while the number of ETH staked has reached a record high of approximately 36 million (about 30% of the circulating supply).
In line with this growth, Standard Chartered analysts also argue that 2026 will be the “Year of Ethereum”.
*This is not investment advice.