Ethereum's Record Q1 Transactions Fuel Q2 Rebound Hopes on ETF Inflows

Ethereum hit a Q1 2026 record with 200.4 million transactions, up 43% QoQ, 33 million active addresses, and 2.52 Mgas/s throughput amid Fusaka/Pectra upgrades. Despite ETH's Q1 drop of 29.26% and 60% six-month decline to ~$2,328, fundamentals strengthened with $180B stablecoins and 38.9M ETH staked (32% supply, 2.8M in queue). Lookonchain data shows $54.55M daily ETH ETF inflows versus $10.98M BTC outflows, signaling institutional rotation and potential Q2 upside.