Ethereum Nears All-Time High as Network Activity Hits Record 1.87M Daily Transactions

Ethereum has posted vital positive factors over the previous week, rising 29% and approaching its all-time excessive close to $4,800 set in 2021. On the time of writing, ETH trades at $4,662, placing it inside vary of the $4,750–$4,800 resistance zone that has traditionally marked a key provide space for the market.

This worth transfer coincides with unprecedented community exercise and notable on-chain flows that analysts say may affect the short-term worth path.

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Ethereum Document Community Exercise Meets Worth Resistance

Knowledge from CryptoQuant contributor CryptoOnchain reveals that day by day Ethereum transactions have reached a file excessive of roughly 1.875 million. This surge in exercise alerts elevated demand for block area and heightened engagement throughout the community.

The confluence of sturdy on-chain metrics with a important worth stage creates a technical and elementary intersection that might decide Ethereum’s subsequent transfer. In accordance with CryptoOnchain, Ethereum’s present place represents a choice level.

A breakout above $4,750, accompanied by sustained transaction quantity, may propel ETH right into a worth discovery part, probably surpassing its historic peak. Conversely, if sellers defend this stage, a consolidation part or a retracement towards the $3,950 help space is feasible.

The analyst additionally cautioned that whereas peak community exercise usually accompanies bullish worth motion, it might probably additionally sign a near-term overheating of the market. In such circumstances, even with sturdy fundamentals, costs could pause or retrace as individuals modify their positions.

This dynamic is especially related as Ethereum assessments a traditionally vital resistance zone whereas community utilization is at an all-time excessive.

Alternate Outflows Recommend Continued Shopping for Stress

In a separate evaluation, one other CryptoQuant analyst, Burak Kesmeci, examined Ethereum’s web circulation information throughout all exchanges. Utilizing the 30-day easy transferring common (SMA30), Kesmeci discovered that ETH web flows stay in strongly damaging territory, at round –40,000 ETH as of August 12, 2025.

This represents a median day by day outflow of 40,000 ETH over the previous month, a development that has coincided with the asset’s current worth improve.

Detrimental web flows point out that extra ETH is leaving exchanges than coming into, usually interpreted as an indication of lowered instant promoting strain and elevated holding conduct.

Kesmeci linked the current outflow energy to identify ETH ETF exercise, suggesting that institutional demand has been a significant component supporting costs.

He famous that so long as the SMA30 stays in damaging territory, the upward development is prone to proceed. A shift into constructive territory, nevertheless, may sign a change in market sentiment and probably weaken shopping for momentum.

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With each file transaction counts and sustained trade outflows, Ethereum is going through a market surroundings formed by sturdy utilization fundamentals and vital institutional curiosity.

Whether or not these components can be sufficient to propel ETH via its long-standing worth ceiling will doubtless be decided within the coming periods, as merchants look ahead to both a confirmed breakout or indicators of rejection on the $4,750 stage.

Featured picture created with DALL-E, Chart from TradingView