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Ethereum is currently negotiated in a period of moderate price movement, reflecting a broader consolidation in the market of cryptographic assets. At the time of writing the editorial staff, ETH is negotiated about $ 2,423, marking a slight drop per day by 0.9% and exceeding more than 50% of its $ 4,878 higher.
This stagnation coincided with a wider lack of catalysts to drive a sustained rally, leaving prudent merchants about Ethereum short -term trajectory. Despite this lack of price dynamics, the activity of the network on Ethereum tells a different story.
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Ethereum metrics on the chain indicate an increase in network engagement
According to cryptocurrency analyst Carmelo Alemán, the number of confirmed transactions on the Ethereum network recently enriched at 1,750,940, making it the third number of daily daily transactions in its history.
Alemán notes that this trend can point out an underlying usage force, even if market players await a larger price response.
Alemán’s analysis focuses on the metric “number of transactions (total)” of Ethereum, which captures all forms of activity, including ETH transfers, executions of intelligent contracts and interactions with decentralized applications and protocols defi.
The recent overvoltage reverses a downward trend of several months and represents the greatest number of transactions since January 14, when Ethereum recorded 1.96 million transactions.
According to Alemán, this point can be motivated by an increase in arbitration, commercial activity and interactions with layer 2 networks, which continue to absorb a substantial transaction volume. Platforms like Arbitrum and Optimism remain key contributors to the wider use of Ethereum.
He also points out that, despite the volatility of ETH prices in the range of $ 2,100 to $ 2,880 in recent weeks, the network traffic increase could refer to Early stage accumulation or a renewed challenge interest.
This dynamic, although it is not immediately reflected in the assessment of the assets, suggests that the central infrastructure of Ethereum continues to see significant use.
Speculative behavior and exchange flows raise short -term concerns
In addition, another cryptocurrency analyst, AMR Taha, has examined The recent technical configuration of Ethereum from the point of view of the derivative market.
Taha stresses that ETH financing rates on the binance have gone from a negative territory to a positive territory, a sign that long -speaking positions are built, which can reflect the expectations of a continuous price. However, this change also increases the potential for over -expansion, in particular if longs are starting to dominate positioning.
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Taha also refers to a recent retest of a short zone of short Semez, during which market players who had short-circuited ETH were forced to close positions, triggering rapid purchase orders.
These movements can generate short -term overvoltages, but they are often followed by correction phases once the speculative energy is fading. Meanwhile, exchange data showed more than 177,000 ETH deposited on the binance over three days, indicating Potential sale or repositioning by major holders.
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