Ethereum Breaks On-Chain Records in August, Watch What The Numbers Say

Ethereum is on ￰0￱ closed with record-breaking on-chain activity as decentralized exchange (DEX) volume soared to $135B, transactions hit 48M, and active addresses climbed to ￰1￱ value locked (TVL) also smashed through the $240B mark, according to Ethereum sets on-chain activity records In August, DEX volume hit $135B, while transactions reached 48M and active addresses hit 15M. Also, @ethereum TVL has crossed $240B. Over the last months, $ETH rose on ETF inflows despite low on-chain activity, but that’s finally ￰2￱ — ￰3￱ (@CryptoRank_io) August 29, 2025 For months, Ethereum’s price had been buoyed by ETF inflows despite lukewarm on-chain metrics.

Now, the network is finally catching up to its valuation with user activity and capital pouring ￰4￱ ETH Purchases Hit New Highs Big players are moving ￰5￱ treasuries added a total of 247,033 ETH this past week alone, per ￰6￱ ETH Purchases A total of 247,033 $ETH was added to corporate treasuries over the past week. Here's the roundup: ￰7￱ — CoinGecko (@coingecko) August 29, 2025 The buying spree follows Ethereum’s rally to an all-time high of $4,946.05 on August ￰8￱ Leads with Massive ETH Buy BitMine topped the charts, scooping up 190,500 ETH as prices ￰9￱ purchase pushed its total holdings to 1.7M ETH, valued at roughly $7.7B. That’s more than double the second-largest corporate ￰10￱ company’s aggressive buying signals long-term conviction even at elevated ￰11￱ Expands Treasury with $252M Purchase Next up, SharpLink added 56,533 ETH at an average price of $4,462, spending $252.2M in a single ￰12￱ firm’s treasury now holds 797,704 ETH worth about $3.6B, cementing its position among Ethereum’s biggest institutional ￰13￱ Discloses $451M ETH Position ETHZilla joined the wave, revealing ownership of 102,237 ETH valued at $451.5M.

Alongside the disclosure, the firm launched a $250M stock buyback program effective ￰14￱ plan runs through June 30, 2025, or until the full allocation is used up—whichever comes ￰15￱ Network Momentum Builds The record-breaking month signals a shift for ￰16￱ much of 2024, rising prices were driven by ETF demand rather than organic network ￰17￱ trend seems to be reversing as August numbers show both price strength and real on-chain ￰18￱ DEX volumes surging, addresses multiplying, and institutional wallets filling up, Ethereum appears to be entering a new phase of ￰19￱ Snapshot DEX Volume (August): $135B Transactions: 48M Active Addresses: 15M TVL: $240B+ BitMine Holdings: 1.7M ETH ($7.7B) SharpLink Holdings: 797,704 ETH ($3.6B) ETHZilla Holdings: 102,237 ETH ($451.5M) If institutional inflows continue and on-chain metrics stay hot, Ethereum could maintain its momentum into ￰20￱ convergence of price action, user growth, and corporate adoption makes the case for sustained bullish sentiment.

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