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Chayanika Deka

Ethereum Developer Activity Hits Record 8.7M Contracts as On-Chain Usage and Efficiency Improve

Ethereum has reached an all-time high of 8.7 million smart contract deployments in a single quarter, overtaking the previous peak of about 6 million in Q2 2021. This rebound in developer activity, driven by rollups, Layer 2 networks, RWAs, stablecoins, and wallet infrastructure, follows a prolonged decline through 2024 and much of 2025, while ETH's price remains below its yearly highs. At the same time, on-chain usage has climbed to new records with about 2.2 million daily transactions and average fees near $0.17.
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