๐๐๐ต๐ฒ๐ฟ๐ฒ๐๐บ ๐ง๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป๐ ๐๐ถ๐ ๐๐ถ๐ด๐ต๐ฒ๐๐ ๐ฆ๐ถ๐ป๐ฐ๐ฒ ๐๐ฎ๐ป ๐ฎ๐ฌ๐ฎ๐ฐ โ ๐๐๐ ๐ช๐ถ๐น๐น ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ฎ๐๐ฐ๐ต ๐จ๐ฝ?
Ethereum just recorded its busiest day in 16 months โ crossing 1.7 million daily transactions, the highest level since January 2024.
๐ Whatโs Happening On-Chain
Daily transactions jumped from 1.2M โ 1.73M in just 3 days
Active addresses rose 50% โ from 345K โ 593K
This shows a clear return of user activity to the Ethereum network
Many of these new transactions happened as ETH price rose above $2,400, hinting that users are buying, not just selling.
โ ๏ธ But Thereโs a Catch โ Sellers Are Still in Control
In the last 24 hours:
Buy volume = $78.15M
Sell volume = $90M
Sell transactions outnumbered buys:
74,000 sells vs 52,000 buys
This suggests that while Ethereumโs network is busy, the price pressure remains bearish โ as more ETH is still being sold than bought.
๐ง What Traders Should Watch
โ Positive: Huge on-chain activity = renewed interest in ETH
โ Risk: Sell volume is stronger, which may hold the price back
๐ If demand keeps rising and selling slows, ETH could break out soon
โ Bottom Line
Ethereumโs spike in usage is a bullish signal, but until buying outweighs selling, price might struggle. Traders should watch for signs of buying momentum catching up โ if that happens, ETH could head for a strong rally.