In recent days, Ethereum shows rising network activity coupled with uncertain price dynamics, which may indicate accumulation and renewed interest in DeFi.
Historic Activity on Ethereum
On June 25, Ethereum recorded 1,750,940 confirmed transactions, the third-highest daily count in its history. This marked the breaking of a months-long downward trend in blockchain activity. Such high levels of activity have not been seen since January 14, 2024, when a record was set with 1,961,144 transactions.
Whale Purchases Accelerate
Whales continue to aggressively accumulate ETH, rapidly draining exchange supplies. Investor Ted Pillows highlighted one whale’s $8.91 million ETH purchase via Galaxy Digital, adding to $422 million amassed within a month. These large-scale buys suggest mounting confidence among whales, even as overall market sentiment remains cautious.
Conclusion
Despite price fluctuations, Ethereum shows signs of structural resilience. Rising network activity and whale activity may indicate potential accumulation and renewed interest in this asset in the market.
Ethereum's network activity and whale accumulation may point to positive prospects for the cryptocurrency, even amid current price fluctuations.
