Ethereum L1 Transactions Hit Record 17.3M; Staking Surpasses 30%

Ethereum continues to break new ground as its Layer 1 (L1) network posts unprecedented transaction and staking milestones.

On February 13, weekly transaction volumes across the Ethereum ecosystem, including L1 and Layer 2 (L2) networks, exceeded 2.15 billion, with daily activity consistently surpassing 300 million transactions. The surge highlights Ethereum’s expanding role not just as a settlement layer, but as a hub for AI-driven on-chain activity.

Transaction Volume Milestones

Ethereum’s L1 layer reached a new all-time high, recording 17.3 million weekly transactions. While this represents only 0.2% of total ecosystem transactions, L1 continues to settle the full value of the Ethereum network, emphasizing its central role in value transfer.

Year-over-year growth is staggering. Weekly L1 transactions climbed 18.4% WoW and surged 420% compared to the same period in 2025, showing both sustained momentum and expanding network adoption.

Transaction distribution remains heavily skewed toward L2 networks. 96.8% of transactions occur off-chain, with Lighter capturing roughly 45% of activity, followed by Base at 30%. Despite the volume shift, Ethereum maintains high cost efficiency. Median L1 transaction fees have dropped to historic lows, a clear sign that scaling upgrades are performing as intended.

Gas Consumption & Blob Market Pressure

The introduction of Blobs via EIP-4844 has enabled Ethereum to handle higher data throughput, but recent transaction surges are pushing the network to near-maximum capacity. Blob space utilization has remained above 98% for the last three days, forcing a 15% increase in the Blob Base Fee and raising L2 submission costs.

L1 Gas prices have become highly volatile. Peak periods of L2 proof submissions pushed Gas to 65 gwei, while off-peak periods saw a drop to 12–15 gwei. This dynamic reflects how congestion on L1 now drives revenue and incentivizes optimized transaction batching for L2 networks.

Staking & TVL Records

Ethereum staking activity has reached another milestone. Over 30% of circulating ETH is now staked, a new all-time high. Robust demand for staking has extended the validator Entry Queue to 21 days, with 4 million ETH currently pending deposit. In dollar terms, this represents approximately $8 billion in queued capital, signaling intense interest from both retail and institutional participants.

Ethereum Mainnet continues to dominate total value locked (TVL), holding steady at $54.2 billion. This dominance underlines Ethereum’s centrality in cross-chain liquidity and DeFi activity.

AI Agents Drive Ecosystem Activity

A notable divergence between price and activity has emerged. The volume surge is not driven by retail speculation but by autonomous AI agents. Over 65% of new transactions are micro-payments executed by AI agents interacting with gaming, SocialFi, and decentralized compute networks.

This surge of automated micro-transactions has created unique market dynamics. Saturated Blob utilization encourages L2s to perform smaller, more frequent batch submissions, which ironically increases L1 Gas revenue. The result is a “congestion-as-revenue” feedback loop, benefiting the Ethereum network financially while maintaining scaling efficiency.

Ethereum as a Digital Jurisdiction

Beyond raw numbers, Ethereum is evolving into a “Digital Jurisdiction for Silicon-based Life.” The EIP-8004 standard is laying the foundation for on-chain AI behavior verification and interoperability. By assigning AI agents immutable “Sovereign Identities,” Ethereum enables algorithmic ownership, decentralized compute, and automated economic interactions to converge seamlessly on-chain.

This transformation positions Ethereum as more than a blockchain for financial transactions. It is now a protocol supporting the compliant operation of autonomous AI systems, enabling decentralized governance and value exchange in a fully automated digital economy.

Outlook & Trends

Ethereum’s record L1 transaction volume, historic staking ratios, and growing TVL demonstrate a network in the midst of both technological and economic expansion. As AI-driven activity continues to dominate, Ethereum is shaping a new paradigm: a blockchain where autonomous agents transact, stake, and interact with governance structures in ways previously only theoretical.

The near-capacity use of Blobs signals that scaling challenges persist, but they also create economic incentives for optimized network usage. Meanwhile, the high staking participation and queued deposits reflect confidence in Ethereum’s long-term security and yield potential.

In short, Ethereum is no longer just a settlement layer. It is rapidly becoming a foundation for a programmable AI economy, where transactions, staking, and data throughput converge to support complex, automated digital life.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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