Ethereum's main network is experiencing a dramatic surge in on-chain activity, breaking multiple historical records. According to on-chain data and analysis from market experts, the network has recently crossed a key threshold in active wallet addresses, reaching an unprecedented level.
Market expert Joseph Young reported that the number of active 7-day moving average (7DMA) wallet addresses on Ethereum has surged to over 811,500, marking the highest level in the network's history. This milestone, achieved in early 2026, signals growing adoption and rekindled conviction in the ecosystem amidst broader market volatility. "The number of transacting users on ethereum just hit a new ALL-TIME HIGH. 889,300 users transacting on ethereum every week," Young stated on social media, attributing the growth to Ethereum's dominance in stablecoins, DeFi, and on-chain trading.
Concurrently, Ethereum's daily transaction volume has also reached a new all-time high. Leon Waidmann, Head of Research at On-chain Foundation, shared data showing the network is now processing over 2.2 million transactions per day, surpassing the previous peak of 1.89 million recorded on January 10. This surge in real-world usage is occurring while network transaction costs remain extremely low, with swaps costing around $0.04, NFT sales at $0.06, and bridging fees as low as $0.01.
Analysts point to the successful Fusaka upgrade as a key driver behind this scalability and efficiency. The upgrade has enabled Ethereum to handle significantly more users and transactions without compromising speed or security, effectively scaling the network. With Ethereum priced at $3,138.34 at the time of reporting, some observers believe the robust network fundamentals could pave the way for a price rally toward the $4,000 mark, though it remains below its all-time high of $4,953.73 from August 2025.
