Ethereum Shatters Records with Record Transactions and Fees

Ethereum's Layer-1 network set new usage records in Q2 of this year. Token Terminal data shows Ethereum processed 203.9 million transactions during the quarter, up 68.4% from a year earlier.

Average throughput on the network reached a record high of 25.9 transactions per second. This growth comes despite a sharp decline in monthly active users, which dropped 30% quarter over quarter to 9.2 million.

The remaining users generated significantly more transactions, resulting in an increase in fees by 31.6% to $52.5 million. Additionally, ETH burn revenue more than doubled to $17.1 million.