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Portuguesa 📊 Hidden bull signal: Ethereum network activity has updated its historical maximum
A rare fundamental phenomenon has been recorded in the Ethereum ecosystem: record divergence between the market price of the asset and the indicators of real network usage. This was noticed by an analyst of the CryptoQuant platform under the pseudonym CryptoOnchain.
While ETH quotes are showing a correction, the number of active addresses in the blockchain continues to grow steadily. The 100-day moving average of this indicator has reached a historical peak 587,000 unique participants.
🔍 Why this is important?
Historically, the growth in the number of active addresses has correlated with an increase in the price of the asset: more users, more demand, rising quotes. The current situation rare exception from this pattern.
The influx of new users and the demand for the blockchain indicate that Ethereum is undervalued. Real network usage is accelerating, despite pessimistic market sentiment, comments CryptoOnchain.
🎯 What's behind the growth in activity?
Fundamental drivers of the current surge:
✅ Development of the L2 ecosystem: arbitrage, optimism and other second-level solutions attract new users;
✅ Growth of DeFi and staking: increase in volumes in liquidity pools and participation in network validation;
✅ Institutional interest: launch of spot ether-ETFs and corporate integrations;
✅ Tokenization of RWA: transferring real assets into digital form based on Ethereum.
✅ Growth of DeFi and staking: increase in volumes in liquidity pools and participation in network validation;
✅ Institutional interest: launch of spot ether-ETFs and corporate integrations;
✅ Tokenization of RWA: transferring real assets into digital form based on Ethereum.
📈 Hidden bull signal: what to expect next?
The analyst classifies the current divergence as hidden bull signal:
🔹 Medium-term scenario: the price of the asset may return to growth following positive fundamental data;
🔹 Long-term potential: acceleration of real network usage strengthens the value of ether as a technological asset;
🔹 Risk factor: if the price continues to decline with increasing activity, this could create conditions for a strong rebound when sentiment changes.
🔹 Long-term potential: acceleration of real network usage strengthens the value of ether as a technological asset;
🔹 Risk factor: if the price continues to decline with increasing activity, this could create conditions for a strong rebound when sentiment changes.
⚠️ Current context
At the time of publication Ethereum is trading at ~$2,320, losing 0.5% in the last 24 hours. However, on-chain metrics indicate: the network's fundamentals are strengthening, even if the market has not yet appreciated it.
