Ethereum (ETH) Price: Network Activity Explodes in December, Shattering All Previous Volume Records

Ethereum just closed out December with a network explosion that left previous activity records in the dust. Forget slow holiday trading—the world's leading smart contract platform saw transaction volumes hit unprecedented highs, signaling a surge of capital and confidence flooding back into the ecosystem.

The On-Chain Frenzy Explained

While specific figures remain under wraps, the data screams one thing: record-breaking volume. That means more DeFi interactions, more NFT trades, and more complex transactions settling on-chain than in any prior period. This isn't just speculative froth; it's tangible, verifiable economic activity being cemented into Ethereum's immutable ledger. The network handled it all without breaking a sweat—a testament to its post-Merge efficiency and scaling roadmap.

What This Means for ETH's Trajectory

Network activity is the ultimate leading indicator. Surging volumes typically foreshadow increased demand for block space, which in turn drives fee revenue and strengthens the underlying economic model. For ETH holders, this is the fundamental engine that powers value accrual beyond mere price speculation. It's the digital equivalent of watching foot traffic explode at every mall in the world simultaneously—except this mall collects rent on every single purchase.

The Bullish Backdrop

This December surge didn't happen in a vacuum. It caps a year of relentless protocol upgrades and growing institutional footholds. The explosion in activity suggests developers and users are voting with their gas fees, betting on Ethereum as the foundational settlement layer for the next generation of finance. Traditional markets might be obsessing over quarterly earnings, but here, the ledger tells the real story in real-time.

Let's be cynical for a second: Wall Street would kill for this kind of transparent, auditable, and real-time economic data. Instead, they're stuck with backward-looking SEC filings and corporate guidance that's more art than science. Ethereum's public ledger cuts through the noise, offering a raw, unfiltered view of capital flows—something traditional finance still can't seem to get right.

The takeaway? While traders watch price charts, the smart money is watching the chain. And right now, the chain is shouting.

TLDR

• Ethereum processed $8 trillion in stablecoin transfers during Q4 2025, nearly double the $4 trillion volume from Q2
• Stablecoin issuance on Ethereum grew 43% throughout 2025, rising from $127 billion to $181 billion
• Ethereum daily transactions reached an all-time high of 2.23 million in late December, up 48% year-over-year
• Monthly active addresses on Ethereum peaked at 10.4 million in December, setting a new record
• Ethereum holds 57% of the stablecoin market share and 65% of real-world asset tokenization value

Ethereum processed $8 trillion in stablecoin transfers during the fourth quarter of 2025. Token Terminal reported the milestone on Monday, marking a new all-time high for the network.

The Q4 figure represents nearly double the transfer volume recorded in the second quarter. Q2 stablecoin transfers totaled just over $4 trillion, according to Token Terminal’s data.

Stablecoin issuance on the ethereum network increased throughout 2025. BlockWorks data shows issuance grew from $127 billion at the start of the year to $181 billion by year’s end. This represents a 43% increase over the twelve-month period.

The surge in stablecoin activity occurred alongside record transaction levels on the network. Etherscan data shows Ethereum daily transactions hit an all-time high of 2.23 million in late December. Daily transactions are currently up 48% compared to the same period last year.

Network Activity Reaches New Heights

Monthly active addresses on Ethereum reached 10.4 million in December, according to Token Terminal. This figure represents a new record for the network.

The number of unique addresses active as senders or receivers also increased. Daily unique active addresses topped one million in late December.

Ethereum maintains its position as the leading platform for stablecoin settlement. The network holds a 57% market share of all stablecoins issued. The TRON network holds second place with a 27% share.

Tether remains the largest stablecoin by issuance with $187 billion in circulation. This accounts for 60% of the entire stablecoin market. More than half of Tether’s supply exists on the Ethereum network.

Price Movement and Market Position

Ethereum’s price climbed above $3,200 during the recent trading period. The cryptocurrency started a steady upward move after settling above the $3,000 level.

ETH gained pace above the $3,050 and $3,120 resistance levels. The price reached a high of $3,218 before entering a consolidation phase. The cryptocurrency is currently trading above $3,100 and the 100-hourly Simple Moving Average.

A short-term bullish trend line has formed with support at $3,120 on the hourly chart. Immediate resistance sits NEAR the $3,200 level, with the first key resistance at $3,220.

Ethereum holds 65% of the real-world asset tokenization market. RWA.xyz data shows the total on-chain value of real-world assets at around $19 billion. When layer-2 and EVM networks are included, Ethereum’s market dominance increases to over 70%.

The network processed these record volumes as institutional and payment infrastructure continues to develop. Daily transaction counts remain elevated compared to historical levels, with the network handling increased throughput throughout the quarter.