Why Ethereum Just Posted Its Third-Biggest Month in History

Quick Highlights Ethereum transaction volume hit $320B in August 2025 Institutional demand and ETFs fueled the surge ETH trades near $4,400 as analysts call it undervalued Ethereum Transaction Volume Surges Past $320B Ethereum’s transaction volume reached $320 billion in August 2025, according to data from The ￰0￱ marks the blockchain’s highest level since May 2021 and the third-largest monthly volume in its history. What’s Driving Ethereum’s Activity? The report highlighted several key factors behind the surge: Unique transactions over 30 days hit an all-time ￰1￱ addresses reached the second-highest level in ￰2￱ Value Locked (TVL) in the Ethereum ecosystem stayed near peak ￰3￱ noted a strong uptick in institutional ￰4￱ treasuries are actively accumulating Ethereum, while spot ETF trading volumes have grown significantly.

Interestingly, despite the surge in activity, average transaction fees dropped to multi-year lows, making Ethereum more attractive for both retail and institutional ￰5￱ See Ethereum as Undervalued Experts at Standard Chartered described Ethereum as an undervalued asset, noting that the market is not fully pricing in its long-term growth ￰6￱ argue that Ethereum’s role in decentralized finance (DeFi), tokenization, and institutional-grade applications gives it a structural edge. “Ethereum is positioned as the backbone of Web3 infrastructure, yet it still trades at a discount relative to its utility,” said one Standard Chartered ￰7￱ pointed to corporate adoption, rising ETF inflows, and Ethereum’s growing dominance over Bitcoin as key reasons the asset could outperform in the next market ￰8￱ of writing, Ethereum trades close to $4,400, reflecting renewed market confidence and momentum.