TechFlow news, on August 26, according to The Block, Ethereum network activity saw a significant decline in August. Over the past 30 days, the 7-day moving average of Ethereum's daily transaction volume plummeted 55% from $6.56 billion on July 26 to $2.9 billion. In July, Ethereum's monthly transaction volume was $134.71 billion, while in August it dropped to $91.46 billion.
Regarding daily transaction counts, on August 27 the number fell to 1.07 million, hitting a multi-month low and significantly below the peak of 1.32 million transactions recorded on March 25. August's total transaction count reached 27.27 million, the lowest since May 2020, a sharp decline compared to July's 35.49 million.
Coinbase analysts David Duong and David Han noted this aligns with the cyclical summer slowdown pattern, although the drop this year is smaller. They pointed out: "Ethereum transaction volume in August declined only 7.7% compared to the previous three months, below the five-year average decline of 16.8%."
BRN analyst Valentin Fournier stated that compared to Bitcoin ETFs which posted seven-day positive growth, Ethereum ETFs have performed poorly, reflecting weakening institutional interest. He explained: "Part of the reason may be the opportunity cost due to the lack of restaking opportunities. We recommend increasing exposure to Bitcoin, as Ethereum is expected to continue underperforming."
