Ethereum's foundational layer transaction volume in Q1 2026 hits a record high, surpassing 200 million transactions for the first time.

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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.

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