ME News reports that on May 24 (UTC+8), Ethereum’s network fundamentals continue to strengthen. Data from Token Terminal shows that Ethereum L1 transaction volume has reached an all-time high, while on-chain gas fees have dropped to historic lows. It is revealed that the Glamsterdam upgrade has reduced transaction fees by approximately 78%, while the network successfully absorbed the cost decline without losing users. Additionally, 32.4% of ETH is currently staked, also a record high, indicating sustained growth in long-term holding and network security participation. Despite persistent bearish sentiment toward ETH in the market, multiple on-chain metrics suggest that Ethereum’s current fundamentals may be among the strongest in its history. (Source: ODAILY)
Ethereum L1 transaction volume reaches all-time high, gas fees at historic lows
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Summary
Ethereum’s L1 transaction volume reached a new all-time high, with gas fees dropping to record lows. Data from Token Terminal shows the Glamsterdam upgrade reduced transaction costs by 78%, while maintaining strong user activity. Trading volume remains robust, with 32.4% of ETH now staked—a new high—indicating increased long-term holding and network participation.
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