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Ethereum's foundational layer transaction volume in Q1 2026 hits a record high, surpassing 200 million transactions for the first time.
Deep Tide TechFlow News, April 17, according to CoinDesk, Ethereum processed 200.4 million base layer transactions in the first quarter of 2026, setting a new record and marking the first time surpassing 200 million in a single quarter. Data shows that this metric has been steadily recovering since a low of approximately 90 million in 2023, with Q1 2026 increasing by 43% compared to Q4 2025’s 145 million.
The report points out that this growth is mainly driven by Layer 2 network settlement and bridging activities, as well as increased stablecoin usage; currently, the on-chain stablecoin supply on Ethereum has reached $180 billion, accounting for about 60% of the global stablecoin market. However, ETH prices are still down more than 50% from the peak near $5,000 in August 2025.