It's not alt season yet, but it's ETH season.
$ETH has finally reached the $4,000 level for the first time since December last year.
But there’s one big difference this time.
This time, we have $ETH treasury companies competing for supply.
Together, corporate treasury accumulation, ETF inflows, and DeFi activity are driving this rally.
On top of that, Ethereum's onchain activity is exploding right now.
- Daily transaction hit a new ATH of 1.74M on August 5th
- Largest monthly number of transactions in July
- Active addresses climbing to levels closer to its May 2021 record.
This surge in activity has sent Ethereum’s dominance up to 12% for the first time in 5 years.
And if ETH can hold above $4,000, we could see a move towards $7,500.
