Ethereum is negotiated around $ 4,300 after a brief drop earlier this week. The recovery comes as the network is experiencing a strong activity, indicating a sustained demand for the second largest cryptocurrency.
In short
- Ethereum's daily transactions exceeds 1.7 million, close to its absolute record of 1.9 million.
- The number of daily active addresses remains high at around 550,000, showing constant adoption.
- ETHEREUM ETHEREUM recorded $ 2.8 billion inputs last week, but $ 1.73 billion was released in the last 3 days.
Ethereum's on-chain activity approaches record levels
On-chain use continues to increase. The Ethereum network has treated more than 1.7 million transactions in a single day, a figure close to its record transaction volume of all time of 1.9 million.
The number of addresses interacting with the network also remains important. THE current daily active addresses amount to around 550,000slightly below 580,000 recorded a week earlier.
Despite this slight decrease, this activity at this level demonstrates constant adoption and participation in the Ethereum ecosystem.
Folding of Ethereum and displacement of institutional flows
In decentralized finance, Ethereum continues to dominate, but has been withdrawn in recent days. Defillama's data show that the total value locked in the DEFI protocols based on Ethereum is $ 88.87 billion.
This figure is lower than $ 97 billion reached last weeka summit since the end of 2021, when the total value had peaked at $ 106 billion. The drop represents a fall of more than $ 8 billion in a week.
Institutional flows via the ETFs were notable. Last week, Ethereum attracted $ 2.8 billion in entries, including 1.02 billion on August 11. These investments brought the total assets of ETF to more than $ 25 billion. This week, the situation has reversed, with $ 1.73 billion leaving ETH ETH in the last three days. Defillama reported this as the biggest exit ever recorded.
Activity of whales and market prospects
Large -scale traders make movements that attract market attention. Lookonchain, a market intelligence company, reported that a long -standing Bitcoin holder with more than 14,800 BTCs valued at $ 1.69 billion, sold $ 670 BTC for $ 76 million. The funds were reoriented to Ethereum, the trader opening long positions totaling 68,130 ETH, valued at around 295 million dollars, spread over four wallets. These transactions indicate confidence in the bullish potential of Ethereum at these price levels.
This activity comes as the ETH evolves in a descending channel, according to analyst Ali Martinez. The token is maintained between $ 4,342 and $ 4,219. A movement above the upper limit could report a revival of bullish momentum around $ 4,516 $ 4,623, while a drop in $ 4,219 could cause New drops to support levels at $ 4,061 and $ 3,862.
In addition to this technical perspective, recent institutional purchases have supported Ethereum rally in recent weeks. A continuation of purchases could raise the price more, with Eric Jackson providing that the token could finally reach $ 10,000, reflecting optimism about its long -term potential.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
