Ethereum's on-chain activity has surged in 2025, with nearly 1.8 million transactions recorded on August 15, nearing its all-time high. Daily transactions have stabilized at around 1.5 million, marking a significant increase from January 2024. Daily active addresses are approaching 600,000, setting a new record. The total value locked in Ethereum's DeFi ecosystem has climbed to $97 billion, the highest since November 2021. This growth is largely driven by institutional participation, as spot Ethereum ETFs attracted over $2.8 billion in a week, including a $1.02 billion inflow on August 11. Despite recent outflows, ETH's price reached $4,776 on August 14, its highest this year, before adjusting to $4,300.