Ethereum Onchain Activity Surges to 4-Year High as Volume Nears $240B
Ethereum just reminded the market who’s boss.
In July, the world’s leading smart contract platform saw a massive rebound in on-chain usage – with metrics not seen since the peak of the last bull cycle.
- $238B in on-chain transaction volume – highest since Dec 2021
- 46.67M transactions, 17.55M active addresses
Ethereum’s on-chain activity came roaring back in July, signaling renewed strength across the Layer 1 giant’s ecosystem. According to data from The Block, Ethereum processed over $238 billion in transaction volume last month – a staggering 70% increase month-over-month, and the highest since December 2021.
But it’s not just about volume. Ethereum also hit an all-time high for monthly transactions, clocking in at 46.67 million – narrowly surpassing its previous record set in May 2021.
The momentum extends to daily usage as well. The 7-day moving average of daily transactions hit 1.64 million, just shy of the all-time peak of 1.66 million. Meanwhile, the network recorded 17.55 million active addresses, another metric returning to its 2021 bull market levels.
And naturally, this renewed on-chain interest is reflected in Ethereum’s price. ETH closed July at $3,700, marking a multi-year high and reinforcing its dominance in the broader crypto market.
Conclusion:
Ethereum’s July surge across all key metrics – volume, transactions, address activity, and price, suggests that its on-chain revival is real. Whether it’s renewed dapp usage, market optimism, or the broader crypto rebound, one thing’s clear: Ethereum’s still the beating heart of the decentralized economy.
