Ethereum Network Usage Jumps Nearly 45% As Bulls Push to Reclaim Higher Levels
Ethereum network usage has surged nearly 45%, with the 7-day moving average of total transfers rising from around 600,000 to approximately 870,000 transactions, according to CryptoQuant data. This significant increase, which began on December 29 and peaked at 1.06 million daily transactions, indicates a sustained rise in network activity rather than a temporary spike. The growth reflects heightened engagement across Ethereum’s ecosystem, including DeFi protocols, decentralized applications, and NFT marketplaces.
Despite this surge in on-chain activity, Ethereum’s price remains consolidating around the $3,200 level. Bulls are defending this zone as a potential base for recovery, while facing resistance near the $3,300–$3,500 region where key moving averages converge. The sustained increase in transactions suggests strengthening fundamentals and growing demand for ETH as a utility asset, often a precursor to improved market confidence. If the $3,200 support holds, it could pave the way for a push toward higher price levels.
bitcoinist01/08 06:02
