ETHEREUM TRANSACTIONS HIT RECORD HIGH AS GAS FEES DROP

Summary from the TLDR Crypto newsletter

Ethereum daily transactions have surged to 2.1 million, surpassing 2021 cycle peaks with a 14% increase over two weeks, while average gas fees have dropped to multi-year lows driven by EIP-4844 and recent blob-capacity upgrades that reduced Layer 2 data posting costs. Stablecoin transfers make up the majority of network activity, with Tether's USDT volume roughly double that of Circle's USDC. Validator dynamics signal strong network confidence as the exit queue fell to zero from 2.67 million ETH in September. 2.6 million ETH awaits entry into staking – the highest queue since July 2023 – with approximately 30% of total ETH supply now staked.