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Ethereum hits $9.92B transaction volume on June 2, a two-month high driven by Layer-2 and stablecoins.

Protocol Fundamentals
04 Jun 2026
Crypto Briefing
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Neutral
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Ethereum's network processed $9.92 billion in transactions on June 2, marking the highest daily volume in about two months. This surge is mainly driven by Layer-2 settlement activity and stablecoin transfers, reflecting strong demand for Ethereum's base layer despite ETH's price remaining stable near $2,000. While transaction counts are high, they haven't yet reached the January 2026 peak of 2.9 million daily transactions. Investors should watch if transaction growth continues alongside rising unique active addresses, indicating organic demand rather than large transfers inflating volume.

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