Ethereum On-Chain Activity Peaks in 2025 with $97B Locked in DeFi

📈 Ethereum is surging back to prominence in 2025. Network activity is hitting near-record levels, with nearly 1.8 million transactions recorded on August 15, approaching its all-time high of 1.9 million. Average daily transactions have grown from 950K in January 2024 to around 1.5 million today.

📊 Active addresses are nearing 600,000, setting a new high (excluding spikes in 2023). Meanwhile, gas usage remains low at $1 million daily, far below the $40 million peaks in 2021–2022, suggesting the growth is institutionally driven, not speculative.

💰 One of the biggest milestones is the DeFi total value locked (TVL), which has now reached $97 billion, the highest since November 2021, when TVL hit a record $105 billion.

📥 This coincides with massive ETF inflows, with over $2.8 billion entering spot Ethereum ETFs in just one week. On August 11 alone, a $1.02 billion daily inflow was reported. Despite a $196.6 million outflow on August 18, total assets in ETH ETFs surpassed $25 billion.

💸 The ETH price climbed to $4,776 on August 14, the highest this year, then corrected to $4,076 and stabilized around $4,300. According to Fundstrat’s Sean Farrell, Ethereum could reach $10,000 by year-end, with even $12,000–15,000 possible in a bullish scenario.