Ethereum network activity has reached unprecedented levels with daily transactions hitting a record 1.875 million, signaling robust ecosystem momentum as ETH approaches a critical $4,750 resistance barrier. The surge reflects intensifying demand for block space across Ethereum’s decentralized applications, moving beyond basic token transfers to encompass complex DeFi and NFT platform usage.
Analysts from CryptoQuant highlight that sustained buying pressure above $4,750 could initiate new price discovery phases, while failure to breach this level risks short-term consolidation around $3,950. The transaction peak aligns with Ethereum’s bullish technical setup and demonstrates historically unmatched network utilization.
The heightened activity underscores Ethereum’s pivotal role in advanced blockchain applications, with market observers noting correlation between network demand and valuation pressures. This transaction milestone validates Ethereum’s ongoing infrastructure scaling solutions as adoption grows across financial and digital asset sectors.