Ethereum Monthly Transactions Top 70 Million as Fees Hit Record Low

Token Terminal reported record Ethereum activity and record-low median fees, while the broader market roundup also noted Ondo founder Nathan Allman’s death, Tether’s GEL₮ launch with Georgia, and Binance Wallet’s Event Rush rollout.

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Summary

Ethereum monthly transactions exceeded 70 million, marking a record high in network usage, according to Token Terminal. At the same time, median transaction fees fell to about $0.00554, a record low. The broader market roundup also highlighted the death of Ondo founder Nathan Allman, Tether’s launch of the GEL₮ stablecoin with Georgia, and Binance Wallet’s rollout of Event Rush.

Terms & Concepts
  • Median transaction fee: The middle fee level paid across transactions, used to reflect the typical cost of using a blockchain network.
  • Blockchain (distributed ledger): A shared digital ledger that records transactions across a decentralized network of computers.
  • Stablecoin: A cryptocurrency designed to maintain a stable value, typically by being pegged to a fiat currency or other reference asset.