Key Takeaways
Is Ethereum network active?
Yes, blockspace demand hit a new high in 2025 and long-dormant ICO wallets just moved ETH.
Where is ETH likely to attract buyers right now?
$3,000-$3,100, a long-term accumulation zone favored by buyers.
Ethereum [ETH] is coming back to life, even as critics insist its best days are behind it.
Blockspace demand just pushed to a new high for 2025, and some of the oldest ICO-era wallets are suddenly active after years of silence.
Market swings are shaking out leveraged traders, with ETH resting in a key long-term buying zone.
The network isn’t slowing down, and the next move may have already begun.
Blockspace demand isn’t slowing down
Ethereum’s blockspace usage has climbed almost continuously for nearly ten years, and 2025 just set a new ATH. The daily gas-used trend showed a rise in network activity, even through market cycles.
Source: X
That makes a new wallet movement even more striking: an early ICO participant, holding ETH since genesis, just moved 200 ETH after more than a decade of inactivity.
Source: X
The wallet originally received 1,000 ETH for just $310 during the 2014 sale. At today’s prices, that stake is worth over $3.1 million. That’s a 10,000x-plus return!
And yet, ETH’s buy zone is wide open
Source: X
All of this comes as Ethereum’s price sits inside its long-term “accumulation zone,” as shown by the rainbow valuation bands.
The market turbulence has already claimed high-profile casualties: Machi — a well-known whale — was liquidated again as ETH dipped, pushing his total losses past $18.9 million, while his brother exited earlier with a smaller hit but still remains well in profit.
Source: X
But despite the noise, the long-term value range is still intact. Every major ETH rally has started from these lower bands, when sentiment is weak and attention is elsewhere.
It’s the phase most traders ignore… and the one LTHs typically rely on.
A reset on the down low
ETH was trading below a key resistance zone near $3,400-$3,500, with sellers stepping in whenever price approaches that band.
At the same time, the RSI was close to oversold territory, rather than showing signs of a full breakdown.
Source: TradingView
The VRVP showed strong ETH activity around $3,000-$3,100, a level where buyers often step in. Meanwhile, the CMF indicated cautious inflows.
The market in reset mode. Weak, yes, but primed for a potential momentum change if buyers step back in.
