Ethereum reached a new high of 889,300 weekly active users, setting a fresh record for network activity. The rise was tied to stronger demand for stablecoin settlement, DeFi usage, and on-chain trading, pointing to broader use of Ethereum’s smart contract infrastructure.
Stablecoins and DeFi remain the main traffic drivers
Blockchain advocate Joseph Young said the jump in users points to real demand for Ethereum rather than activity driven only by speculation. Major stablecoins including USDT, USDC, and DAI still rely heavily on Ethereum and its Layer 2 networks for settlement. At the same time, DeFi applications such as lending, staking, derivatives, and yield farming continue to add to transaction counts.
That keeps Ethereum in the role of a core settlement layer for on-chain finance. Competition from other networks is increasing, but the figures cited in the source show usage is still moving higher.
Fusaka upgrade is tied to stronger scalability
Young also said Ethereum’s scalability improved sharply after the Fusaka upgrade. According to the source material, the network can now support more users and more transactions without giving up speed or security. Rising activity after that upgrade suggests Ethereum’s scaling roadmap is producing measurable effects.
For a smart contract network, this matters. User growth on its own can be noisy, but increased activity alongside scalability gains gives the trend more weight.
Price stands at $3,138.34 with $3,200 in focus
The source adds that ETH is currently priced at $3,138.34 and is pushing toward the $3,200 resistance level. The article cites views that stronger user confidence could help Ethereum move back toward $4,000. Ethereum previously reached an all-time high of $4,953.73 in August 2025, though it has not crossed $5,000.
Based on the material provided, three data points define the current Ethereum story: transaction growth, record user activity, and improved scalability after Fusaka. Stablecoin settlement and DeFi demand remain central, reinforcing Ethereum’s position in blockchain-based finance.