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$ETH $ETH ETH Holds Firm Near $3.6K as Daily Transactions Approach Historic Highs Islamabad, 07 August 2025 – Ethereum (ETH) is maintaining its ground around the $3,600 mark, currently trading at $3,658, reflecting a 2.2% gain over the past 24 hours—even as it remains about 4.7% lower on the week. Ethereum Network Activity Surges On‑chain metrics tell a compelling story: Ethereum processed approximately 1.87 million transactions on 6 August, drawing close to its all‑time high of 1.96 million daily transactions, last seen on 14 January 2024. This uptick aligns with data from YCharts, which reports a daily total of 1.878 million transactions on 5 August—a 9% increase from the previous day and a substantial 66% rise compared to the same period last year. What's Driving This Surge? Analysts point to several converging factors: Stablecoins—notably USDC and Tether (USDT)—along with significant activity on Uniswap, a leading decentralized exchange, are key drivers behind Ethereum's rising transaction volume. The passage of the GENIUS Act, which offers regulatory clarity for U.S. dollar‑backed stablecoins, is boosting market confidence. Institutional inflows are rising, bolstered by approvals for multiple Ethereum ETFs, funneling fresh liquidity into the network. Price Outlook: Consolidation, Momentum, and Resistance Ethereum's price is currently consolidating in a range of $3,380 to $3,920. However, broader technical sentiment remains cautiously optimistic: Analysts note less ETH being sent to exchanges relative to BTC, indicating a potential continuation of ETH’s relative strength. Despite flash dips down to $3,500, ETH reclaimed the $3.6K level, suggesting buying interest is holding. On the technical front, if ETH breaks past the current resistance, it could target Fibonacci levels that correspond to price projections as high as $7K–$8K. Summary Table Metric Value Current ETH Price ~$3,658 (up 2.2% daily, –4.7% weekly) Daily Transactions (6 Aug) ~1.87 million (near all-time high of 1.96M)
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