Ethereum On-Chain Transactions Soar to Record $238 Billion in July

Ethereum’s on-chain transaction volume experienced a dramatic surge in July, reaching a record high of $238 billion – a 70% increase from June. This marks the highest monthly figure since December 2021, signaling a robust return of both retail and institutional activity. The spike can be attributed to several factors including market recovery, the resurgence of decentralized finance (DeFi), growing NFT adoption, and improved scalability through Layer-2 solutions.