#ETH Countdown To A New High Despite record transaction traffic on Ethereum, revenues are declining sharply.
Transactions are increasing as Ethereum moves toward its $5,000 target. However, increased competition is reducing network revenue and user interest.
According to data, Ethereum's (ETH) average daily transaction count is near all-time highs, with over 1.7 million transactions recorded on Tuesday.
For comparison, Ethereum's second-layer networks, Arbitrum and Base, recorded 3.4 million and 8.6 million transactions, respectively, according to The Tie, while rival first-layer blockchain A