Ethereum's network has been experiencing unprecedented growth, with the latest data showing that the 7-day Simple Moving Average for total transfer count has reached an all-time high of over 1.3 million.
This surge in on-chain activity is largely driven by DeFi protocols, Layer 2 scaling solutions, and smart contracts, which are contributing to a significant increase in daily transfer volumes.
The rising demand for Ethereum's network utility is reflected in the data provided by CryptoOnchain, an on-chain analyst who has been tracking the trend. According to this data, the current high-transfer-count trend confirms organic, real-world demand for the network.