Ethereum’s on-chain transaction volume exceeded US$320 billion in August, the highest level since May 2021

PANews reported on August 29 that according to The Block, the monthly on-chain transfer volume of Ethereum network exceeded US$320 billion in August, setting a record high since May 2021 and the third highest monthly transfer volume on record. This transaction volume measures economic throughput on the Ethereum blockchain, including money transfers, DeFi interactions and other transactions. The 30-day trading volume also hit a new high, with the number of monthly active Ethereum addresses reaching the second highest in history, and the total value of locked positions is still close to the highest level in history. While activity surged, the accumulation of corporate Ethereum treasury funds increased significantly, spot ETH ETF trading volume increased, and average transaction fees fell to multi-year lows. Ethereum's transaction costs are also close to its lowest level in five years, supporting higher on-chain usage.