Ethereum crosses 200 million quarterly transactions for the first time ever

The Ethereum blockchain has achieved a milestone, with the first quarter of 2026 witnessing the highest number of quarterly transactions since its inception. According to data from crypto analytics firm Artemis, the network processed a staggering 200.4 million transactions over the past three months, marking a 43% increase from the previous quarter and setting a new all-time high.

This surge in activity can be attributed to a steady climb in transaction numbers, which began in the fourth quarter of 2023. On February 7, 2026, the Ethereum network reached a peak of 2.897 million daily transactions, as reported by YCharts, a research and analytics platform. Although this figure has since decreased to approximately 2.363 million transactions per day as of April 2, it remains a significant indicator of the network's growing usage.

A key factor contributing to this increase in transactions is the exponential growth in active addresses on the Ethereum network. Between January 1 and March 31, the number of active addresses skyrocketed to 12.6 million, representing a remarkable 1,704% gain from the previous quarter, according to DeFiLlama's analysis. This surge in active addresses can be linked to prior upgrades, which have driven organic growth in layer two networks such as Base and Arbitrum, ultimately leading to increased mainnet utilization.

The expanding stablecoin market cap on the Ethereum network has also played a crucial role in boosting transaction numbers. As of the latest update from DeFiLlama, the total stablecoin market cap on the network stands at around $164.4 billion, fueled by regulatory clarity in the United States courtesy of the Genius Act. The increased liquidity of stablecoins on the network has, in turn, driven up demand for settlements and transfers, thereby supporting the overall growth in transaction volumes.