Ethereum's ecosystem activity has surged to a new all-time high in November 2025, fueled by significant growth in decentralized finance (DeFi), non-fungible tokens (NFTs), and Layer 2 networks. On-chain data reveals that daily transactions, active wallet addresses, and smart contract interactions have all reached unprecedented levels. Layer 2 solutions such as Arbitrum, Optimism, and Base are handling millions of transactions daily, while DeFi platforms like Uniswap, Aave, and Lido are experiencing increased liquidity. This surge in activity highlights strong organic demand and enhanced infrastructure, supported by recent upgrades like proto-danksharding and EIP-4844.