Ethereum Surpasses 18.7 Million Weekly Transactions with Record-Low Fees

Ethereum has reached an all-time high of 18.7 million weekly transactions, while maintaining an all-time low median transaction fee of just $0.008.

This unprecedented divergence indicates the successful implementation and impact of Ethereum's ongoing scaling upgrades.

The dramatic reduction in transaction fees is largely attributed to the Dencun upgrade, specifically the introduction of EIP-4844, also known as 'proto-danksharding.'

This upgrade has significantly lowered data costs for Layer-2 (L2) rollup solutions, making transactions on platforms like Arbitrum and Optimism substantially cheaper.