PANews reported on August 29 that according to The Block, the monthly on-chain transfer volume of the Ethereum network exceeded US$320 billion in August, setting a record since May 2021 and the third highest monthly transfer volume on record. This transaction volume measures the economic throughput on the Ethereum blockchain, including transfers, DeFi interactions and other transactions. The 30-day transaction volume also hit a new high, the number of monthly active Ethereum addresses reached the second highest level in history, and the total locked value remained close to the historical high. Along with the surge in activity, the accumulation of corporate Ethereum treasury funds increased significantly, spot ETH ETF trading volume increased, and average transaction fees fell to multi-year lows. Ethereum's transaction costs are also close to the lowest level in five years, supporting higher on-chain usage.