Ethereum on-chain activity surges to near 4-year highs in July

Ethereum recorded over $238 billion in on-chain transaction volume in July, up 70% month-over-month and its highest since December 2021. The network also saw a record 46.67 million transactions and 17.55 million active addresses, the most since May 2021. ETH ended the month at $3,700, a multi-year high. The surge in activity comes with renewed investor optimism following regulatory clarity from the recently passed GENIUS Act, which has strengthened sentiment across the crypto market, The Block reported.