The Ethereum ecosystem, comprising its mainnet and second-layer scaling solutions like Optimism, Polygon, Arbitrum, and Base, has reached a significant milestone by surpassing major European digital payment operators in daily transaction volumes. Recent analysis by Leon Waidmann of Onchain Foundation revealed that the Ethereum Virtual Machine (EVM) blockchains processed over 27 million transactions in a single day, setting a new record.
This remarkable achievement is particularly notable when considering the transaction throughput of existing payment systems in the U.K. and Germany. For context, the U.K.’s Faster Payments system handles approximately 11 million payments daily, while Germany’s Girocard manages around 22 million transactions. In contrast, the Ethereum ecosystem, which includes Layer 2 networks, processed a striking 25 million transactions in just 24 hours, marking a new all-time high. When accounting for the Ethereum mainnet’s contribution of 2 million transactions, this cumulative total highlights the growing dominance of Ethereum-based solutions in the realm of digital payments.
The transaction rate represents roughly 313 transactions per second, showcasing the scalability and efficiency of Ethereum’s architecture. Waidmann pointed out that these figures are already larger than the transaction volumes of various popular digital remittance applications in Europe, including Japan’s Zengin, which currently handles nearly four times fewer transactions compared to the Ethereum ecosystem.
However, despite these impressive metrics, the Ethereum ecosystem still falls short of competing with the world’s largest card processing systems. For instance, UnionPay, the Chinese payment giant, processes a staggering 1.5 billion transactions daily, while Visa manages approximately 640 million remittances.
In tandem with these developments, Ethereum’s price has also shown significant growth. Over the past three months, the price of Ethereum has doubled—from $2,205 to over $4,440. It peaked at $4,953 on August 24, 2025, indicating a robust resurgence in investor interest amid various market dynamics.
Furthermore, Ethereum continues to maintain its status as the dominant blockchain for Tether (USDT), the largest stablecoin, which accounts for the majority of global crypto transfers. As per Tether’s latest Transparency report, Ethereum is responsible for $90.7 billion in USDT transactions, compared to its closest competitor, Tron, which holds a share of $78 billion.
These developments underscore the ongoing significance and transition of Ethereum within the broader financial landscape, as it captures a larger share of the digital payments market while continuing to evolve amid competitive pressures.
