Ethereum's on-chain activity is heating up, and price trends are beginning to follow this increasing level of participation. The rise in active addresses indicates that existing users are interacting with the network more frequently, while the surge in new addresses reflects a steady influx of new participants.
These indicators suggest that the growth of ETH is driven by real utility rather than pure speculation. If this daily trading continues, ETH may enter a new phase where fundamentals and market sentiment begin to align, and the engine of ETH will operate more robustly than ever before.
Does Ethereum hold a leading position in the market?
Ethereum's on-chain activity is quietly yet decisively accelerating. According to a post by Cas Abbe on X, the daily trading volume of ETH has now reached its highest level in over a year, indicating that network usage is not only stable but also accelerating.
Data shared by experts indicates that the daily trading volume of ETH is approximately 1.7 million transactions. The surge in trading volume suggests that the fundamentals of ETH are strengthening, even if the price trend has not fully reflected this.
Currently, more and more users are participating in the ETH network, with both active addresses and new addresses showing a significant upward trend. This is not short-term trading noise, but a sign of genuine adoption and sustained network usage.
Despite the surge in daily trading volume, the EIP-1559 upgrade continues to have a subtle impact on Ethereum's economy, permanently removing ETH from circulation over time, leading to tighter supply. Despite recent market volatility, Cas Abbe emphasizes that the net issuance of ETH remains close to neutral, indicating that the supply dynamics of ETH are increasingly tightening.
The rise in network usage combined with the limited supply of the network constitutes a strong market signal. This suggests that the momentum of ETH is not driven by short-term speculation, but rather stems from real, sustained demand for block space, services built on its network, and long-term fundamentals.
Does strategic accumulation signal the beginning of a new bull market?
Ethereum continues to show significant growth in several key areas. Recent reports indicate that the scale of ETH's strategic reserves has exploded in the past few months, marking a significant shift in market positioning.
An analyst named Crypto Patel stated on X that in April of this year, ETH's strategic reserves were approximately $200 million. Today, that reserve has soared to an astonishing $10 billion, representing a 50% increase in just four months.
The significant increase in ETH strategic reserves is not just a huge number; it clearly indicates strong accumulation by investors and long-term confidence in the future of the ETH network. It also suggests that investors need to engage in staking growth and large-scale capital allocation before the next potential catalyst for ETH arrives.
