Ethereum News Today: Ethereum's Record Gas Usage Signals Resilience as NFT Sector Slumps 7% Amid Crypto Downturn

Generated by AI AgentCoin World
Thursday, Jul 24, 2025 11:38 pm ET1min read
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Aime RobotAime Summary

- Ethereum’s network gas usage hit a record high on July 8, while NFT prices and volumes dropped over 7% by July 23, highlighting diverging trends in the crypto market.

- Tron’s fee revenue surpassed Ethereum’s in some metrics, driven by stablecoin and gaming activity, as cost-effective networks gain traction amid macroeconomic pressures.

- Goldman Sachs increased Ethereum ETF holdings by 2,000% to $476 million, reflecting institutional confidence in Ethereum’s proof-of-stake upgrades and energy efficiency.

- Niche NFT projects like CryptoBatz saw isolated 400% price spikes from celebrity events, but failed to offset the sector’s broader slump in speculative digital assets.

- The crypto market’s maturation is evident as infrastructure-focused blockchains attract investment, while non-essential NFTs struggle with demand amid shifting investor priorities.

Ethereum’s network gas usage reached an all-time high on July 8, signaling sustained on-chain activity amid a broader cryptocurrency market downturn. This surge, driven by high transaction volumes and smart contract interactions, reinforced Ethereum’s position as a critical infrastructure for decentralized applications and DeFi protocols. However, the NFT sector faced a sharper correction, with prices and trading volumes plunging over 7% by July 23, reflecting renewed investor skepticism toward speculative digital assets [1]. The contrast between Ethereum’s resilience and the NFT sector’s slump underscores evolving priorities in the crypto ecosystem, where foundational blockchain networks gain traction while non-essential collectibles struggle for demand.

Despite the broader slump, niche NFT projects occasionally defied trends. For example, CryptoBatz NFTs saw a 400% price spike following events tied to celebrity interest, though such isolated gains failed to counterbalance the sector’s overall decline [2]. Analysts attribute the NFT downturn to macroeconomic pressures and shifting investor focus toward utility-driven blockchain use cases. This dynamic is further highlighted by Tron’s growing fee revenue, which in certain metrics now exceeds Ethereum’s, as cost-effective networks attract activity in stablecoin and gaming sectors [3].

Institutional interest in

Ethereum
, however, has remained robust. A Facebook post cited a 2,000% increase in Goldman Sachs’ Ethereum ETF holdings to $476 million, alongside a doubling of
Bitcoin
ETF investments to $1.5 billion [4]. These moves align with Ethereum’s ongoing proof-of-stake transition, which has reduced energy consumption while maintaining security. Such developments suggest growing confidence in Ethereum’s long-term viability, even as the broader crypto market grapples with regulatory uncertainties and macroeconomic headwinds.

The divergence in performance between infrastructure-focused blockchains like Ethereum and speculative assets like NFTs highlights a maturing market landscape. While Ethereum’s technical upgrades and institutional adoption provide a counterbalance to volatility, the NFT sector’s struggles reflect challenges in monetizing non-essential digital goods. As competition intensifies, the ability to balance innovation with practical applications will likely determine which projects endure.

Sources:

[1] [Mitrade - Ethereum Gas Usage Record](https://www.mitrade.com/insights/news/live-news/article-3-985175-20250725)

[2] [CoinJournal - CryptoBatz NFTs Surge](https://coinjournal.net/news/cryptobatz-nfts-prices-surge-by-more-than-400-following-ozzy-osbournes-death/)

[3] [Mitrade - Tron’s Fee Revenue Growth](https://www.mitrade.com/insights/news/live-news/article-3-978324-20250723)

[4] [Facebook Group - ETF Holdings Update](https://www.facebook.com/groups/2884002658576629/posts/39757174****5134/)