Ethereum Network Usage Jumps Nearly 45% As Bulls Push to Reclaim Higher Levels

Ethereum is attempting to stabilize above the $3,200 level as the broader crypto market shows early signs of relief following weeks of volatility and corrective pressure. While price action remains cautious, bulls are working to defend this zone as a potential base for further recovery. Against this backdrop, on-chain data is beginning to paint a more constructive picture for Ethereum’s underlying fundamentals. A recent CryptoOnchain analysis using CryptoQuant data highlights a notable acceleration in Ethereum network activity. The 7-day moving average of the total transfer count has climbed to approximately 870,000 transactions, a sharp increase from the roughly 600,000 average recorded in the weeks leading up to December 29. This nearly 45% rise in activity suggests a meaningful surge in network usage rather than a short-lived anomaly. The increase in transfers points to growing engagement across the Ethereum ecosystem, including decentralized applications, DeFi protocols, and broader value transfers. Importantly, this...

https://bitcoinist.com/ethereum-network-usage-jumps-nearly-45-bulls-push/