[Ethereum Developer Activity Hits Record High, 8.7 Million Smart Contracts Deployed in Q4 2025] Leon Waidmann, Head of Research at Onchain Foundation, cited data from Token Terminal, stating that Ethereum developer activity has reached an all-time high, with 8.7 million smart contracts deployed in the fourth quarter of 2025, marking the highest quarterly figure in history. The deployment of more contracts involves DApps, RWA, stablecoins, and infrastructure, with related activities accelerating into 2026. Ethereum's role as a core execution and settlement layer continues to strengthen.