Ethereum’s daily active addresses surged to 841,100 in July, marking the highest network engagement level recorded in 2025. This notable growth occurred even as ETH’s price declined nearly 10%, trading near $3,540 during the period.
Institutional inflows drove significant accumulation, with BlackRock’s Ethereum Trust (ETHA) leading purchases by acquiring 4,841 ETH valued at $17.65 million. This transaction increased BlackRock’s total holdings above 3 million ETH, equivalent to $11.04 billion.
Other major institutions expanded their positions, including Grayscale Ethereum Trust adding 1,989 ETH and Fidelity Ethereum Fund increasing by 1,498 ETH. The broader cryptocurrency market correction—influenced by Bitcoin’s performance and U.S. Federal Reserve policy shifts—contributed to Ethereum’s price dip.
Sustained institutional participation in Ethereum ETFs indicates strong confidence in ETH’s long-term value proposition despite recent volatility. This divergence between network adoption and short-term price movement highlights foundational strength in Ethereum’s ecosystem.