Ethereum L1 daily transaction volume hits 2.2 million, with an average fee of around $0.17

BlockBeats News, December 31st, according to Etherscan data, yesterday the Ethereum mainnet set a new record with a daily transaction volume of 2.2 million transactions, while the average fee dropped to just $0.17. Ethereum's previous highest transaction fee record was set in May 2022, when users were paying over $200 per transaction on average. Through continuous network upgrades, despite the growing usage, network fees have significantly decreased. The growth in mainnet transaction volume indicates users are returning to the Layer 1 main chain, while developers are increasingly seeing Ethereum as a settlement layer. Token Terminal data also shows that the number of smart contracts newly created and deployed on the Ethereum mainnet reached a historical high of 8.7 million in the fourth quarter.

In 2025, Ethereum underwent two major upgrades, the May Pectra upgrade focused on validator improvements, staking flexibility, and preparedness for future scalability features. The early December Fusaka upgrade increased the gas limit from 45 million to 60 million, significantly enhancing scalability, data processing, and network efficiency.