The recovery trend on the Ethereum chain in July is fully demonstrated, with transaction volume approaching $240 billion

According to The Block, Ethereum's blockchain transaction volume exceeded $238 billion in July, a 70% increase compared to the previous month. This is also the highest monthly trading volume since December 2021, setting a new high in nearly four years. The transaction volume of the Ethereum network also reached 46.67 million, setting a monthly record and rising 3.6% from the historical high in May 2021. The 7-day moving average (7DMA) of the number of transactions on the Ethereum network is also close to its historical high, reaching 1.64 million transactions, slightly lower than the historical record of 1.66 million transactions in May 2021. The number of active addresses on the Ethereum network in July was 17.55 million, the highest level since May 2021. With all positive updates on Ethereum network metrics, ETH prices have also reached their highest point in years, valued at $3700 by the end of July.