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In the first quarter of 2026, the Ethereum blockchain recorded the highest number of transactions since its inception. Over the three-month period, the total reached 200.4 million operations.
According to the analytics platform Artemis, the transaction count increased by approximately 43% compared to the previous quarter. The peak was observed on February 7, with around 2.8 million operations per day. By April 2, this figure had decreased to 2.3 million, as reported by YCharts.
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As per DeFiLlama, the primary driver behind the significant rise in Ethereum transactions was the surge in active addresses. From January 1 to March 31, the number of active addresses reached 12.6 million, marking an increase of roughly 1704% compared to the prior quarter.
The increase in transaction volume may also be linked to the implementation of the Dencun and Fusaka upgrades, which aim to enhance network scalability and reduce fees. This has notably contributed to heightened activity in layer two solutions, including Base and Arbitrum.
An additional factor could be the expansion of the stablecoin market. According to DeFiLlama, the market capitalization of Ethereum-based stablecoins was approximately $164.4 billion. This growth may have been influenced by the recent passage of the GENIUS Act in the U.S., which regulates the issuance and circulation of stablecoins.
Previously, the analytics service Token Terminal reported that in the fourth quarter of 2025, the volume of stablecoin transfers on the Ethereum network reached a record $8 trillion, nearly doubling within six months.
