Ethereum continues to show strong growth momentum with consistently record-setting network activity, while active short-term holders help ETH lead the cryptocurrency market.
Ethereum not only maintains its leading role in the altcoin market but also records an unprecedented number of transactions and active addresses, demonstrating its strength and potential to break through in the upcoming new cycle.
MAIN CONTENT
Ethereum excels in market resilience and network performance consistently reaching new peaks.
Transaction fees (Gas Fee) remain low even though usage demand is at record levels across the ecosystem.
The short-term speculation group continues to accumulate, creating a foundation for ETH's next price surge.
What is Ethereum?
Ethereum is the world's leading smart contract platform and the backbone of the cryptocurrency market outside of Bitcoin. With an open infrastructure architecture, Ethereum allows the creation of countless decentralized applications and new Tokens, ensuring a crucial role for the entire DeFi ecosystem.
After many years of development, Ethereum not only provides a flexible platform for innovative projects but also serves as a major liquidity center, where new capital flows often concentrate whenever the market recovers. This affirms ETH's sustainable appeal to both institutional and individual investors globally.
Why is Ethereum considered a resilient asset in the market?
Ethereum consistently ranks among the leaders in resilience, demonstrating strong recovery after each deep decline while most other altcoins remain in prolonged red.
According to analysis from CryptoQuant, on the map of recovery strength and price declines, ETH, along with Bitcoin, Binance Coin, and Tron, is one of the few that maintains long-term stability. High liquidity helps Ethereum continuously absorb new capital flows, minimizing deep prolonged price declines compared to thousands of small altcoins.
The ability to quickly regain high price levels after each fluctuation proves that investors have great confidence in ETH, highlighting Ethereum's position and reinforcing the outlook for market dominance in the next growth cycle.
What is the current level of Ethereum's network activity?
Ethereum sets a new record for transaction activity: over 2.4 million transactions per day and more than 1.2 million active wallet addresses, both of which are at historical highs according to data from TokenTerminal.
Despite the surge in network usage, Gas fees only fluctuate around 80 million USD/day – much lower than the peak of over 300 million USD in previous cycles. This indicates that Ethereum is becoming increasingly cost-efficient, helping retain users and attract a wave of new applications.
The fact that the network is always busy while maintaining reasonable fees is a testament to Ethereum's growth, efficiency, and adaptability to the overall market's sustainable growth demands.
What factors enable Ethereum to lead the next cycle?
Data from Alphractal shows that the long-term holding group is gradually taking profits, while the short-term speculation group continues to buy, currently holding about 39.4 million ETH – a clear sign of confidence in a new price increase.
This anomaly often signals a major breakout for ETH. Historically, whenever short-term speculators are not in a hurry to take profits, Ethereum tends to initiate strong price increases.
"When short-term speculators shift to accumulation instead of selling, it is always a signal for a new growth phase of the entire cryptocurrency ecosystem."
– Alphractal Report, June 2024
If this trend continues, not only ETH but also the entire altcoin market will continue to absorb less of Bitcoin's dominance over the next three months, opening a new growth cycle with Ethereum at the center.
How does Ethereum's performance and resilience compare to other major altcoins?
With drawdown analysis data, Ethereum continues to maintain lower declines compared to most major altcoins, quickly recovering after each market fluctuation. In particular, compared to thousands of small Tokens, ETH almost has no prolonged price drops, allowing investors to hold long-term with peace of mind.
Recent ATH Platform Active Addresses/Day Transaction Fees/Day (Average) Drawdown Recovery Capability Ethereum Near Historical Peak 1.2 million 80 million USD Very High Binance Coin Near Peak Q1/2024 460,000 20 million USD Average – High Bitcoin New Historical Peak Q2/2024 1.1 million 60 million USD High Tron Highest 2023 900,000 15 million USD Fairly High
The above data shows that Ethereum clearly maintains its leading position in terms of network efficiency, fee levels, and strong recovery capability after declines.
What are the prospects for Ethereum and its impact on the altcoin market?
The fact that ETH maintains strength and new accumulation momentum from short-term speculators gives the entire altcoin market the opportunity to rise strongly compared to Bitcoin's dominance cycle.
"Ethereum is the backbone of innovation in the cryptocurrency market, with every growth cycle significantly marked by the strength of this network."
– CryptoQuant Report, June 2024
New capital flows are expected to focus more on ETH and 'blue-chip' altcoins, contributing to a wave of development, asset diversification, and breakthroughs in decentralized products and applications in the near future.
Frequently Asked Questions
How is Ethereum's network activity currently performing?
According to TokenTerminal, Ethereum records over 2.4 million transactions and 1.2 million active addresses daily – the highest in history, demonstrating its unmatched appeal in the DeFi and NFT sectors.
Are Ethereum's Gas fees increasing or decreasing compared to before?
Currently, Ethereum's Gas fees are around 80 million USD/day, lower than the previous peak of over 300 million USD, despite a significant increase in transactions and users.
Why is the accumulation by short-term speculators important for ETH?
When this group buys without taking early profits, it often creates a solid foundation for ETH's price to explode in new growth cycles.
Which major altcoin has better market resilience than Ethereum?
Ethereum, along with BTC, BNB, and Tron, is a group of assets that maintains superior resilience, quickly recovering after corrections and having low long-term downside risks.
Can Ethereum continue to lower Gas fees while ensuring network safety?
Even though Gas fees have decreased, Ethereum still maintains strong network security thanks to technical improvements and a growing number of users, ensuring a stable and flexible ecosystem.
Source: https://tintucbitcoin.com/ky-luc-hoat-dong-phi-ethereum-thap/
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