Ethereum (ETH) remains trapped in a downward trend, but the underlying activity within the network is underlying. The patience of investors is still being put to the test, but fundamental signals indicate a possible change.
ACTIVE ADDRESSES REACT RECORD HEIGHT
In just one week, the number of active Ethereum addresses has increased by 62.7% to a record number of 15.4 million. This strong growth points to renewed involvement within the Ethereum ecosystem. Although the exact reason for this revival is unclear, something seems to be brewing. The increase in network activity could be a harbinger of the upcoming price increase.
ETF inflow returns
After weeks of net outflow, there is finally a positive inflow into Ethereum ETFs. Last week $ 64.1 million in capital was invested in these funds. This is a sharp contrast with the previous period, in which outsource of more than $ 100 million a week were no exception.
The total value of Ethereum ETFs is now $ 6.2 billion. This inflow is accompanied by a slight increase in the ETH prize and can be seen as a sign of restorative trust under institutional investors. Whether this recovery momentum continues depends strongly on the wider macro-economic climate.
Ecosystem activity at full speed
The actual power of Ethereum is currently in the development of its ecosystem. The increase in the number of active addresses indicates increasing adoption of decentralized applications (DAPPS), Defi protocols and especially Layer 2 networks. The latter category is growing explosively: Layer 2 solutions now process 6.65 times as many transactions as the Ethereum Mainnet.
On a technical level, the ETH race around the $ 1,800 resistance level moves with an RSI of 55-a neutral position, without signs of overheating. Ethereum slowly seems to be picking up the thread again. Whether this revival will continue structurally will become clear in the coming weeks. However, one thing is certain: the Ethereum network is full of activity.
Source: https://newsbit.nl/ethereum-laat-herstel-zien-etf-instroom-neemt-toe-en-netwerk-bruist-van-activiteit/
