ChainCatcher reported that according to The Block, the 7-day moving average of daily transaction volume on the Ethereum network has dropped by about 55% in the past month, from $6.56 billion on July 26 to $2.9 billion today.

Ethereum's monthly transaction volume in July was $134.71 billion, while the transaction volume in August is currently only $91.46 billion, with 5 days left until the end of the month.