While the Ethereum price is stuck at the $2,500 resistance level, the transaction volume on the network is approaching records. What does this increased activity mean?

While the focus in the cryptocurrency market is on price charts, the Ethereum network is showing a quiet but strong activity. According to recent data, the Ethereum network reached the third highest transaction volume in history with 1,750,940 transactions daily. Although the price does not show the expected rise, these numbers reveal how actively Ethereum is still being used.

These transactions are not just about ETH transfers; activities in DeFi protocols and interactions with decentralized applications (DApps) are also included. It is believed that the recent price fluctuations are one of the main reasons for this intense usage on the network. Traders, arbitrage bots, and DeFi users continue to heavily utilize Ethereum's infrastructure.

CryptoQuant analyst Carmelo Alemán emphasizes the importance of on-chain data, stating, 'Despite the weakness in prices, it is an important indicator that the Ethereum community remains active on the network.' According to Alemán, this vitality could be a signal of an upcoming recovery or a new wave of developments.

On the technical side, popular analyst Rekt Capital highlights that Ethereum tested the $2,500 level as resistance. While this level has historically served as strong support, it has now become a barrier following recent breakouts. A daily close above this resistance is crucial for starting an upward trend. Otherwise, the price is expected to move sideways between $2,200 and $2,500.

As a result, the Ethereum price has not yet determined a clear direction; however, on-chain activities are quite lively. Such a mismatch is often seen as a sign of an upcoming breakout. In the coming days, it will become clear whether the price will follow the network's activity or if this vitality will decrease.


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