Ethereum’s daily transactions have topped 1.6M, showing rising demand even as ETH trades far below its $4K all-time high.
Over $250M in bridge inflows and a $500M stablecoin rise reflect Ethereum’s growing dominance across liquidity metrics.
Capital is shifting from newer chains like Base and StarkNet to Ethereum, reinforcing user trust in its core infrastructure.
Ethereum’s network activity has surged past 1.6 million daily transactions, marking its highest level since 2023. This increase in usage comes while ETH trades near $2,400, well below its all-time high of $4,000.
Transaction Spike Exceeds Price Movement
According to a post by CryptoGoos, Ethereum's transaction volume has surpassed the 1.5 million level to an all-time high not seen since 2023. The spike reflects increased network usage on top of flat price levels and comes after months of fluctuating readings of 800K and 1.2M. The current breakout implies that Ethereum usage is decoupling from price trends.
https://twitter.com/crypto_goos/status/1939010658009231415
Between 2018 and 2022, Ethereum's on-chain activity followed its price trend consistently, peaking during bearish rallies. Today's rise in on-chain activity, however, is different from the past cycles because it happens during a corrective market cycle. Price has been in a very narrow range, reflecting Ethereum's growing utility even in tempered market conditions.
Bridged Inflows and Stablecoin Growth Reinforce Demand
Ethereum is also witnessing strong capital inflows through cross-chain bridging, depicting growing ecosystem growth. In a QuintenFrancois report, Ethereum led all networks with over $250 million in bridged inflows in the last 24 hours. Stablecoin supply grew by $500 million, demonstrating astronomical demand for on-chain liquidity.
Avalanche followed immediately, posting around $40 million in inflows, while other chains like Polygon, Solana, and WorldChain saw minimal gains. In contrast, Base and Arbitrum recorded significant outflows, with Base alone losing more than $250 million. The shift underscores a migration of capital toward Ethereum from alternative L1s and L2s.
Moreover, several newer networks, including Linea, zkSync Era, and StarkNet, saw net capital exits. OP Mainnet and Berachain were also in the red, hinting at waning interest in emerging ecosystems. Ethereum’s leadership in inflows and stablecoin growth suggests that institutional and user confidence remains anchored to its infrastructure.
Price Action Lags Despite Network Strength
On CoinMarketCap, Ethereum is priced at $2,437.13, showing a 7.01% monthly decline. Its market capitalization remains strong at $294.2 billion, with a 0.39% daily gain. The fully diluted valuation aligns with the market cap, indicating supply stability.
However, 24-hour volume has dropped 40.89% to $7.78 billion, pushing the volume-to-market cap ratio to just 2.74%. Ethereum’s price hit a monthly peak of $2,728.20 in early June before falling below $2,250 mid-month. Resistance holds near $2,800, while short-term support is visible at $2,300, framing the asset in a volatile but actively used phase.
The post Ethereum Transactions Hit 1.6M as $750M Inflows Outpace Price and Volume appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
