Ethereum is showing significant growth in network activity and ongoing ETH burning, providing new market perspectives.
Rising Ethereum Network Activity
Active Ethereum addresses have reached 674,000, marking the highest level since the last peak in 2021. Analyst Cas Abb's assessment indicates that the increase in active and new addresses confirms rising interest in the network and true adoption rather than short-term speculation.
> "Ethereum is showing signs of quiet but strong growth onchain."
— Cas Abb
Easing Supply Pressure on ETH
The EIP-1559 mechanism continues to burn ETH, keeping net emissions close to zero even with market volatility. This supply constraint and rising consumption create a foundation for market stability. Institutional interest is also present as evidenced by data showing capital inflows into Ethereum ETFs.
Market Outlook and Key Levels
Currently, Ethereum is trading at $3,550 with a trading volume of approximately $20 billion. Analyst Michaël van de Poppe identified key support levels at $3,200–$3,350 and $2,950–$3,050 that could facilitate recovery towards $4,000.
> "I wouldn’t be surprised if [ETH] goes back to lows one more time and then reverses back up."
— Michaël van de Poppe.
Current trends in Ethereum signal increasing network activity and potential for further recovery. Investors and traders continue to monitor key levels and demand dynamics.
