Ethereum

USDC

Beacon

Ethereum daily transactions spiked to a new record, while gas fees remained close to all-time lows. After several upgrades, Ethereum demonstrates peak activity while also avoiding congestion and gas price spikes.&nbsp;Ethereum posted another intra-day transaction record, peaking at over 2.8M daily over the weekend. The chain also achieved record activity while gas fees maintained its lows. The heightened activity coincided with a price recovery for ETH, as the coin held above $3,200.&nbsp;<figure id="attachment_897885" style="width: 100%" class="wp-caption alignnone"><img class="wp-image-897885 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2026/01/EthereumTransactionsJan192026.png" alt="Ethereum daily transactions spike to new record, while gas fees remain low" width="1007" height="569"><figcaption id="caption-attachment-897885" class="wp-caption-text"> Ethereum transactions spiked to a new all-time peak over the weekend, while not affecting gas prices. Users are returning as L1 Ethereum usage becomes highly affordable and comparable to other networks. | Source: <a href="https://etherscan.io/chart/tx" rel="noopener noreferrer nofollow">Etherscan</a></figcaption></figure>The main network can now carry regular transactions priced at under $0.01, while specialized transfers only cost around $0.05. Ethereum activity has shifted, abandoning NFTs and some token-based activities, while retaining <a href="https://www.cryptopolitan.com/stablecoin-issuers-rake-in-5b-rev/" rel="noopener noreferrer nofollow">stablecoin transfers</a> at a peak level.&nbsp;The recent Etherem activity reveals users are drawn to the EVM ecosystem and use the main network, as long as transactions are not too expensive. On the other hand, <a href="https://www.cryptopolitan.com/base-leads-all-other-l2-chains-on-revenues/" rel="noopener noreferrer nofollow">L2s</a> slowed down and concentrated into a handful of top networks, with the easiest bridging to Ethereum.&nbsp;<h3 id="span-style-font-weight-400-ethereum-concentrates-economic-activity-again-span">Ethereum concentrates economic activity again</h3>Contrary to the fears that the L1 chain would only be used for utility, Ethereum continues to draw economic activity. The chain is in the top 3 based on app revenue, just behind Solana and BSC. Almost all other L1 and L2 chains have fallen away in the past months, as traders returned to ETH for the higher liquidity and easier access to centralized facilities.&nbsp;Ethereum apps produce <a href="https://defillama.com/app-revenue/chains" rel="noopener noreferrer nofollow">$1.36M</a> in fees daily, closing in on BNB Chain. The network is still far behind Solana, with $4.6M in app revenues. The low gas costs may also lead to further expansion of <a href="https://www.cryptopolitan.com/ethereum-defi-tvl-share-largest-l1-ecosystem/" rel="noopener noreferrer nofollow">Ethereum-based DeFi</a>. Previously, some trades were not profitable due to gas costs, but the recent upgrades allow even retail traders to return to DEX activity, token swaps, lending, and other actions without a fear of outsized expenses.Because fees are so low, Ethereum is also increasing its inherent inflation from block rewards. Over 18,600 ETH is produced each week, though for now, the extra coins are absorbed by staking deposits.&nbsp;The biggest number of transactions comes from ETH transfers, USDT, and USDC transfers, with the addition of several high-activity smart contracts. DEX activity remains elevated, especially through dedicated routers.&nbsp;<h3 id="span-style-font-weight-400-ethereum-staking-reaches-peak-levels-since-dencun-upgrade-span">Ethereum staking reaches peak levels since Dencun upgrade</h3>Another sign of long-term confidence for Ethereum is the <a href="https://www.cryptopolitan.com/ethereum-validator-exit-queue-drops/" rel="noopener noreferrer nofollow">growing validator queue</a>.&nbsp;Over 2.6M ETH are waiting to be deposited to the Beacon chain smart contract. The waiting time is near an all-time peak of over 45 days, the highest waiting period since the shift to proof-of-stake in 2021.&nbsp;The shift to staking comes from treasury companies and ETFs, reflecting the effect of Bitmine (BMNR), which is now in the process of staking its treasury.Don’t just read crypto news. Understand it. Subscribe to our newsletter. <a href="https://www.cryptopolitan.com/newsletters/?utm_source=cp&amp;utm_medium=web&amp;utm_campaign=inlineAds" rel="noopener noreferrer nofollow">It's free</a>.

Ethereum hits new 2.8M daily transaction record as retail returns for low fees

Table of Contents

Cryptopolitan_News

Other articles published on Jan 19, 2026

Internet Computer Faces Major Tokenomics Reset as DFINITY Unveils “Mission 70”

ETHGas Explained: How Ethereum Blockspace is Becoming a Traded Market

Lista DAO Brings Real-World Yields to BNB Chain

What is LitVM? A Beginner’s Guide to Litecoin’s EVM-compatible Layer2 Solution

Grayscale Unveils New Assets Under Consideration for Future Investment Products: Key Details

Neutrl Emerges Top Performer in Stablecoin and Crypto Yields

Join our free newsletter for daily crypto updates!