Ethereum's on-chain recovery in July saw transaction volume approach $240 billion

According to Odaily Planet Daily, Ethereum's on-chain transaction volume exceeded US$238 billion in July, a month-on-month increase of 70%. This is also the highest monthly transaction volume since December 2021, setting a new high in nearly four years. The Ethereum network transaction volume also reached 46.67 million, setting a monthly record, up 3.6% from the historical high in May 2021. The 7-day moving average (7 DMA) of the number of transactions on the Ethereum network is also close to the historical high, reaching 1.64 million, slightly lower than the historical high of 1.66 million in May 2021. The number of active addresses on the Ethereum network in July was 17.55 million, the highest level since May 2021. With all the positive updates to the Ethereum network indicators, the price of ETH also reached its highest point in many years, with a value of US$3,700 by the end of July. (The Block)