Ethereum Hits Record Transaction Volume as Fees Drop and Staking Stability Rises

Ethereum’s daily transaction volume reached a record high of 2.1 million, up 14% from 1.8 million two weeks prior, while average gas fees fell to their lowest levels in two years, according to Blockscout data. The surge reflects the success of EIP-4844 and the blob-capacity upgrade, which reduce Layer 2 data posting costs on the mainnet. Most activity stems from stablecoin transfers, with Tether’s USDT volume roughly double that of Circle’s USDC. Low fees have enabled durable usage, aligning with growing mainstream payment integration across Ethereum-based systems. The validator exit queue has dropped to zero, signaling strong staker confidence. Validator exits fell from a September 2025 peak of 2.67 million ETH, while 2.6 million ETH now awaits entry—highest since July 2023. This indicates balanced staking incentives and capital retention. Co-founder Vitalik Buterin warned against protocol bloat, stressing that long-term resilience depends on simplicity as much as scalability. “Sustainable scaling requires sustainable simplification,” said Dosh of Blockscout, highlighting that reduced complexity preserves agility for future upgrades. January 19, 2026