Ethereum has reached a historic milestone, processing over 70 million transactions in a single month for the first time, according to a report from OKX Ventures citing Token Terminal data. This record comes alongside a dramatic drop in median transaction fees to just $0.00554, the lowest level ever recorded on the network.
The combination of surging activity and plummeting fees signals that Ethereum's scalability roadmap is finally delivering tangible results. OKX Ventures highlighted the growing adoption of Layer 2 scaling solutions and a modular blockchain architecture, which are absorbing transaction demand away from the base layer. This has enabled a new wave of on-chain applications, including stablecoins, blockchain gaming, and real-world asset tokenization.
The recent Glamsterdam network upgrade played a key role, slashing gas fees by up to 78%. Even complex operations like DEX swaps now cost as little as $0.07, compared to around $1 just months ago. Daily transactions peaked above 3.62 million in late April, according to Etherscan, and have held near those highs.
However, the fee reduction has also attracted a surge in address poisoning attacks. On-chain analysts warn that dusting campaigns and fake transaction records have expanded dramatically, with losses exceeding $62 million in 2026. Attackers are exploiting Ethereum's transparent ledger to deploy automated, industrial-scale poisoning schemes, often sold as Telegram bot packages. Even AI agent plugins have been observed intercepting copied wallet addresses.
Despite these security challenges, the network's fundamental usage metrics point to a maturing ecosystem. OKX Ventures argued that Ethereum is moving beyond the race for transactions per second (TPS) and into a phase where real user utility drives growth, forming a more resilient on-chain economy.
