TechFlow News, April 17: According to CoinDesk, Ethereum processed 200.4 million base-layer transactions in Q1 2026, setting a new all-time high and marking the first time it has surpassed 200 million transactions in a single quarter. Data shows this metric has been steadily recovering since hitting a low of approximately 90 million in 2023, rising 43% from 145 million in Q4 2025.
The report notes that this growth was primarily driven by settlement and bridging activity on Layer 2 networks, as well as increased stablecoin usage; the current on-chain stablecoin supply on Ethereum stands at $180 billion—about 60% of the global stablecoin market. However, ETH’s price remains down over 50% from its peak near $5,000 in August 2025.
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