According to Odaily data, Ethereum's mainnet saw a record 2.2 million transactions yesterday, while the average fee dropped to just $0.17. Ethereum's previous record for highest transaction fees was set in May 2022, when users paid over $200 per transaction on average. Through continuous network upgrades, network fees have significantly decreased despite increasing usage. The increase in mainnet transaction volume indicates that users are returning to Layer 1 mainchains, and developers are increasingly using Ethereum as a settlement layer. Token Terminal data also shows that the number of newly created and published smart contracts on the Ethereum chain reached an all-time high of 8.7 million in the fourth quarter.
Ethereum underwent two major upgrades in 2025. The Pectra upgrade in May focused on validator improvements, staking flexibility, and preparation for future scalability features. The Fusaka upgrade in early December increased the gas limit from 45 million to 60 million, while significantly improving scalability, data processing, and network efficiency.
