Ethereum Reaches All-Time High of 1.55 Million Daily Transactions
The Ethereum (ETH) blockchain has reached a new all-time high (ATH) in daily transactions, hitting approximately 1,550,000 transactions per day. Despite this increase in network activity, ETH's price remains below major resistance levels.
Key Points on Ethereum Network Activity
- Daily transaction count reached ATH of about 1,550,000
- Total unique Ethereum addresses increased to 332,122,674, with 207,454 new wallets added recently
- On-chain fundamentals show significant user engagement
- ETH price has not risen accordingly, remaining subdued below key resistance zones
- Market may be in an accumulation phase with potential for a bullish breakout targeting up to $5,000
Price Outlook
- Analyst Titan of Crypto noted ETH is compressing within a monthly triangle pattern, which could lead to a breakout towards $8,000
- Analyst Gert van Lagen suggested a potential price target of $9,000 based on technical and fundamental support
- Over 1 million ETH withdrawn from centralized exchanges in the past two weeks, hinting at a possible supply crunch
- Current ETH price is $3,590, down 1.1% in the last 24 hours