Ethereum Nears All-Time Highs as Network Activity and ETF Flows Surge

Ethereum (ETH) had one of its busiest months in years this ￰0￱ hit new highs, driven by more companies using the network, strong demand for Ethereum ETFs, and lower transaction ￰1￱ the price of ETH has pulled back from its peak, the underlying signals point to a blockchain entering a new phase of ￰2￱ Onchain Activity Hit New High Reportedly, Ethereum blockchain processed more than $320 billion in adjusted onchain transfers in ￰3￱ was the highest figure since May 2021 and the third-largest month ever ￰4￱ includes both regular transfers and decentralized finance (DeFi) ￰5￱ momentum shows just how much economic activity is flowing through the ￰6￱ and monthly transactions hit new highs, and active ETH addresses came close to breaking ￰7￱ total value locked (TVL) in Ethereum stayed near its all-time peak, showing that money is still flowing into DeFi and smart ￰8￱ activities on the network also reached record ￰9￱ exit requests hit all-time highs, while entry requests reached their strongest levels in two ￰10￱ of this activity is linked to the rise of liquid restaking ￰11￱ protocols collected tens of billions of dollars this month as operators sought better yields and ￰12￱ churn has not weakened Ethereum.

Instead, it has created new layers of activity and liquidity across the ￰13￱ Treasuries and ETFs Boost Demand for ETH Big companies added a lot of Ethereum to their balance sheets in ￰14￱ firms increased their holdings from about $4 billion to more than $12 billion in just one ￰15￱ of the biggest buyers were BitMine Immersion and SharpLink ￰16￱ the same time, spot Ethereum ETFs saw heavy ￰17￱ the time of writing, these funds together owned over 5% of all Ethereum, with steady inflows showing strong investor ￰18￱ shows that both companies and everyday investors are treating ETH as a valuable asset to hold for the long term. Ethereum’s momentum has grown with lower fees and key ￰19￱ Dencun upgrade, released in March 2024, and the Pectra upgrade, rolled out earlier this year, have made Ethereum more scalable, affordable, and easier to use, supporting long-term ￰20￱ Gains Momentum but Still Below Record High Ethereum gained from bigger market ￰21￱ big Bitcoin holders moved money into ETH, which pushed up the ETH/BTC ratio this ￰22￱ the same time, ￰23￱ sector tests using Ethereum to share economic data showed that the blockchain can be used for more than just ￰24￱ analysts, like those at Standard Chartered, say Ethereum is still undervalued compared to its growth in treasuries, ETFs, and onchain ￰25￱ with these positive signs, ETH is still 12% below its record high, trading at around $4,411, down by 4.28%, according to CoinMarketCap .