Ethereum network activity has surged to levels approaching its 2021 all-time high, recording 674,880 active addresses on August 2. This represents the strongest user engagement since the previous bull market peak of approximately 750,000 active addresses.
Concurrently, exchange outflows exceeded $100 million between July 18 and August 3, signaling substantial ETH accumulation by investors. This movement of assets off trading platforms typically reduces immediate market selling pressure and reflects strong holding sentiment.
Despite a recent price dip to $3,100, Ethereum has demonstrated resilience by rebounding to stabilize between $3,550 and $3,600. Analysts view this price consolidation above $3,500 as supported by the dual tailwinds of intensified network usage and supply absorption from exchanges.
The current growth pattern differs fundamentally from past volatile spikes, indicating Ethereum’s maturation into an ecosystem underpinned by real-world applications and reinforced long-term investor confidence rather than speculative activity.