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In July, the recovery trend of Ethereum on-chain became evident, with a volume close to 240 billion US dollars.
PANews, August 5th news, according to The Block, Ethereum’s on-chain monthly transaction volume in July exceeded $238 billion, rising 70% month-on-month. This is also the highest monthly transaction volume since December 2021, setting a new high in nearly four years. The Ethereum network’s transaction volume also reached 46.67 million transactions, setting a monthly record, up 3.6% from the historical peak of May 2021. The 7-day moving average (7DMA) of Ethereum network transaction counts is also close to the historical highest level, reaching 1.64 million transactions, slightly lower than the historical peak of 1.66 million transactions in May 2021. In July, the number of active addresses on the Ethereum network was 17.55 million, the highest level since May 2021. With all the positive updates on Ethereum network metrics, the price of ETH also reached its highest point in years, valued at $3,700 by the end of July.