Ethereum Hits 20.24 Million Weekly Transactions Driven by 18.14 Million Layer 2 Activity

Ethereum has achieved a significant milestone, processing 20.24 million transactions in a single week, marking its highest weekly transaction volume to date. This surge is primarily driven by a substantial increase in Layer 2 activity, which accounted for 18.14 million of the total transactions. The mainnet contributed 2.01 million transactions during the same period. This growth underscores the accelerating adoption of scaling infrastructure, as gas-efficient rollups continue to absorb high-frequency activity. The trend has been consistent since mid-2023, with Layer 2 usage surpassing Ethereum’s base layer in volume.

The daily transaction counts on Ethereum’s base layer are also nearing the peak levels seen in 2021, with the network pushing close to 1.5 million transactions per day. This resurgence in activity, which has been consistent since 2022, indicates real network strength and sustained on-chain demand, absent of meme hype or price mania. Ethereum is reasserting its role in settlement flow while operating more efficiently.

In parallel, Ethereum has led capital inflows over the last 24 hours, pulling in $96.3 million across tracked platforms. This influx of capital reinforces Ethereum’s position as a liquidity anchor. However, Arbitrum posted a sharp outflow of $37.9 million, the largest negative swing among all listed chains. This movement highlights the capital flight from certain ecosystems, further emphasizing Ethereum’s dominance as a settlement layer.

This record-breaking week for Ethereum transactions is a testament to the network's growing utility and efficiency. The surge in Layer 2 activity, coupled with the consistent growth in daily transactions, demonstrates that Ethereum is not only attracting more users but also retaining them through improved scalability and lower costs. The network's ability to handle high-frequency transactions without a corresponding increase in gas fees is a significant achievement, indicating that the demand is driven by functional use cases rather than speculation.

The capital inflows into Ethereum further solidify its position as the foundation of on-chain settlement. Despite the outflow from Arbitrum and other chains, Ethereum continues to attract capital, reinforcing its role as a liquidity anchor. This trend suggests that users and investors are increasingly confident in Ethereum's ability to support a wide range of decentralized applications and services, driving sustained growth and adoption.