Ethereum (ETH) began climbing again this week, along with the rest of the market. However, it remains trapped under the $2,879 level for now.<\/p>\n
Even as it struggles to spearhead the much-anticipated \u201caltseason,\u201d its network activity is telling a louder story.<\/p>\n
On June 25, Ethereum recorded 1,750,940 confirmed transactions. This was the third-highest daily count in its history and breaking a months-long downward trend in on-chain activity.<\/p>\n
The \u201cEthereum: Transaction Count (Total)\u201d metric captures all confirmed network transactions, including ETH transfers, DeFi operations, smart contract executions, and DApp interactions, and gives a clear insight into real usage. Such high activity levels have not been seen since January 14, 2024, when the cryptocurrency set its all-time high record with 1,961,144 transactions before usage gradually declined.<\/p>\n
The latest spike comes even as ETH\u2019s<\/a> price has shown volatility, ranging between and $2,111-$2,879 over the past month, as traders, DeFi protocols, and arbitrage bots actively adjust positions in real time. This divergence between price weakness and strong on-chain activity suggests a potential early signal of accumulation and renewed DeFi interest, even if it is not yet reflected in ETH\u2019s market valuation.<\/p>\n Meanwhile, institutional and retail interest seems to be steady, with stable ETH holdings on exchanges and rising transaction volumes on Layer 2 networks like Arbitrum and Optimism, which continue to handle a significant share of Ethereum\u2019s daily settlement activity.<\/p>\n CryptoQuant said<\/a> that these developments point to deeper structural resilience in the network\u2019s usage patterns.<\/p>\n \u201cThese developments reinforce Ethereum\u2019s pivotal role in the broader crypto ecosystem and suggest that the network\u2019s recent on-chain spike is not an isolated event, but part of a deeper structural recovery.\u201d<\/p>\n Amid these signals of underlying strength, whale activity has emerged as another key indicator reflecting deep-pocketed confidence in Ethereum.<\/p>\n Whales continue aggressive ETH accumulation, rapidly draining exchange supplies. Investor Ted Pillows highlighted one whale\u2019s $8.91 million ETH purchase via Galaxy Digital yesterday, adding to $422 million in Ethereum amassed within a month.<\/p>\n These large-scale buys suggest mounting confidence among whales, even as overall market sentiment remains cautious.<\/p>\n The post Is Ethereum (ETH) Seriously Undervalued Right Now? Many Whales Bet On It<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum (ETH) began climbing again this week, along with the rest of the market. However, it remains trapped under the $2,879 level for now. Even as it struggles to spearhead the much-anticipated \u201caltseason,\u201d its network activity is telling a louder story. Historic Activity on Ethereum On June 25, Ethereum recorded 1,750,940 confirmed transactions. This was […]<\/p>\n","protected":false},"author":0,"featured_media":76668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-76667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/76667"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76667"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/76667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/76668"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Whale Purchases Accelerate<\/h2>\n