Ethereum has recorded unprecedented levels of market activity, with daily transactions reaching 1.875 million. This event occurred amid rising prices of ETH, nearing its all-time high.
Record Transaction High
According to CryptoQuant analysis, Ethereum achieved a record of 1.875 million transactions in a day. The price of ETH rose by 0.6% to around $4,670, which is nearly 5% below its all-time high of $4,750 recorded in November 2021.
Increase in Institutional Investments
Data from Strategic ETH Reserves indicates a growth in institutional demand for Ethereum, with about $16.5 billion worth of ETH held in treasuries. Some publicly traded companies have begun using Ethereum as a financial tool, allowing for passive income generation.
ETH Dynamics Compared to Bitcoin
Analysts noted that Ethereum rose by 25% in August, while Bitcoin's increase was just 3%. The growth in institutional demand and positive investor confidence contributed to this surge. Notably, purchases from SharpLink and BitMine also drove ETH towards its historical high.
Watching Ethereum's dynamics reveals significant growth in interest from institutional investors and record activity levels on the network. This creates conditions for possible breakthroughs to new all-time highs, but short-term corrections can also be expected.
