According to Foresight News, according to data from The Block, the 7-day moving average of daily transaction volume on the Ethereum network has dropped by about 55% over 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 August's transaction volume is currently only $91.46 billion, with 5 days left in the month.