Ethereum Hits 2-Year High Amid On-Chain Activity Surge
Ethereum $ETH has surged past $3,200, reaching its highest level since mid-2023. The rally follows a spike in on-chain activity, driven by a rise in DeFi transactions and renewed interest in Layer 2 networks like Arbitrum and Base.
๐น Total Value Locked (TVL) in Ethereum-based DeFi protocols rose by 18% in the last 30 days
๐น ETH gas fees remain stable despite increased demand, thanks to EIP-4844 (proto-danksharding)
๐น Institutional flows into ETH are up 26% week-over-week
๐ Analysts suggest that Ethereum's momentum could continue as developers push ahead with scaling upgrades and Ethereum ETFs remain under consideration in multiple jurisdictions.
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