Data: Daily Transactions on the Ethereum Network Rise to 1.87 Million, Approaching the All-Time High of 1.96 Million Set in January 2024

ChainCatcher reports, citing Decrypt, that Etherscan data shows Ethereum’s daily transaction count saw a slight increase yesterday to 1.87 million, approaching the all-time high of 1.96 million set on January 14, 2024.

Jake Kenni, Senior Research Analyst at Nansen, stated that this surge is mainly attributed to increased trading volumes of stablecoins USDC, Tether, and the decentralized exchange Uniswap. The spike in stablecoin trading volume may be related to activities in Washington.

Sara Gherghelas, Senior Analyst and Researcher at DappRadar, noted that the passage and signing of the GENIUS Act has boosted market confidence, as the legislation provides a legal framework for stablecoins operating in the United States.