Key Takeaways

What’s fueling Ethereum activity?

Transactions broke 1.6–1.7 million daily and Active Addresses hit 422k, reflecting genuine adoption and DeFi growth.

Will ETH break higher soon?

Weak DMI at 17 and SMI near 33 show bearish bias, keeping price between $4,000 and $4,300 despite whale accumulation.

Ethereum [ETH] has been stuck in a tight range, with price momentum weakening even as its blockchain activity hits new records.

At press time, ETH traded at $4,147, down 1.17% in 24 hours. Yet, while the altcoin’s upside has stalled, transactions, Active Addresses, and whale demand are surging, setting up a clash between weak momentum and strong fundamentals.

Ethereum transactions and addresses climb

According to CryptoQuant, Ethereum’s daily transactions broke out of a four-year range of 900k–1.2 million.

As of writing, the network recorded between 1.6 and 1.7 million transactions, marking the highest levels recorded on Ethereum.

Even more importantly, real users backed these transactions. In fact, the number of Active Addresses has bounced back from the dip below 400k, rising from 342k to 422k.