Ethereum is experiencing a massive upswing in activity, hitting a 12-month high with 1.8 million daily transactions. This shows just how popular and useful the network has become.
A Year-High Transaction Record
Last month saw Ethereum reach a major milestone: 1.8 million daily transactions—the highest in a year! This huge jump shows a significant increase in real-world use of the network. Adding to this, a whopping 30% of all ETH is now locked up in staking. This demonstrates strong belief from long-term investors who are choosing to hold and earn rewards instead of selling. The SEC’s stance on liquid staking is also seen as a positive step, potentially paving the way for an ETH ETF, which could dramatically change how institutional investors approach ETH. This shift is even reflected in Bitcoin’s declining market dominance, dropping from 60% to 57% in August – suggesting money is moving into ETH and other assets.
Institutional Investors Pile Into Ethereum
The surge in Ethereum’s activity isn’t just driven by individual users; big institutional investors are also getting involved. Recent filings show major financial players are significantly increasing their ETH holdings.
Goldman Sachs, for example, now holds a massive $721 million worth of ETH, adding a huge 160,072 ETH to its portfolio. Other major players like Jane Street, Millennium, Capula, Schonfeld, and D.E. Shaw are also boosting their ETH positions. Even a range of asset managers are joining the trend. These Wall Street firms are treating ETH as a long-term strategic asset, solidifying its position as a key player in the crypto world.
