As a researcher tracking Ethereum’s performance, I’ve noticed a significant breakthrough. For the past four years, we’ve consistently seen between 900,000 and 1.2 million daily transactions on the network. Now, we’re seeing that range surpassed, with Ethereum currently processing between 1.6 and 1.7 million transactions each day. This is a notable increase and suggests a real shift in network activity.
Despite recent market instability, Ethereum continues to grow in popularity and use. Data from Etherscan demonstrates a consistent increase in activity, with transaction levels now higher than in previous years.
Activity Spikes as Ethereum Leads DeFi Momentum
CryptoQuant analyst Darkfost tracked network activity using a 14-day average to smooth out typical fluctuations. A recent surge to 1.6-1.7 million represents a significant break from this established trend.
He explained the increase was linked to the growing popularity of decentralized finance (DeFi). Ethereum plays a key role in this growth, acting as a place to trade, borrow, and transfer stablecoins. This increased activity on the Ethereum network has historically corresponded with a rise in ETH’s price, suggesting a solid foundation for its value.
Even though people felt negatively about things in late March, the network was already handling an average of 1.2 million transactions daily, which helped create the recent surge in activity.
IntoTheBlock has noted that increased activity on the Ethereum network, measured by gas usage, often means more smart contracts are being used. At the same time, more stablecoins are moving around on Ethereum, which also points to a growing number of transactions. These trends suggest a recent increase in network activity.
The recent increase isn’t simply due to people trading one cryptocurrency for another. CryptoSlam data reveals a significant jump in NFT sales using Ethereum, driven by new NFT creations and more efficient transaction processing.
Accumulation, Reserves, and Long-term Impact
Ethereum is experiencing network expansion alongside a significant increase in the value of its cryptocurrency, ETH. The price of ETH has jumped by double-digit percentages this week, briefly exceeding $4,400.
More and more companies are showing interest in digital assets. A recent report shows these companies now hold 4% of all Ether (ETH), compared to 3% of Bitcoin, hinting that they may be starting to favor Ether over Bitcoin for their investments.
With increasing activity on the blockchain and the price of Ethereum rising above $4,000, experts are predicting significant future growth. Trader Merlijn compared Ethereum’s price pattern to a ‘ladder,’ suggesting the recent price increase creates a solid foundation for further gains.
In my analysis, I’ve identified an ascending channel pattern which suggests potential price targets of $6,500, $8,000, and potentially even $10,000. However, I’m also watching key resistance levels closely. Currently, $4,350 appears to be a major hurdle; if we break through that, I expect we could see a move towards $4,790.
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2025-10-04 16:29