With the bearish pressure around Ethereum and its market building strongly, its price could retest the $1,500 support level sooner than expected. One good thing during this bearish phase is that the ETH network has continued to showcase robust growth as activity on the chain revisits historic levels.
Growing Demand Fuels Ethereum Network Activity
While the Ethereum price slowly loses its stability, the network has displayed steady upside momentum in the persistently unfavorable market conditions. Despite ETH retesting key support levels such as the $1,600 mark, activity across the leading network does not seem to be slowing down.
Reports from Leon Waidmann, the head of research at Lisk and market expert, reveal that Ethereum is witnessing a powerful resurgence in network activity, climbing to record levels. According to the expert, activity across the blockchain is sitting at all-time high levels, signaling growing engagement in the entire ecosystem.
As Ethereum continues to function as a fundamental layer for decentralized banking, tokenization, and blockchain-based applications, the spike represents rising demand from users, developers, and institutions. This robust growth underscores the chain’s position as one of the most active and influential networks in the cryptocurrency sector.
Even though ETH’s price looks dead, data shows that daily active addresses are hovering near the network’s highest range ever. In 2018, active wallet addresses on the network peaked at 720,000, and in the 2021 bull market cycle, the addresses topped at 800,000.
Meanwhile, in this current market cycle between 2025 and 2026, the addresses have been constantly pushing past 1 million, peaking above 1.3 million. This implies that the network is processing more real activity now than it did at the top of the last bull market cycle.
Interest in Ethereum is rising at a significant rate, as indicated by a major withdrawal of the coins from cryptocurrency exchanges. As of Wednesday, the number of ETH on crypto exchanges reached about 14.5 million ETH, marking its lowest level in history, which came during the crash, not before it.
In October 2023, the ETH exchange balance hit its lowest level with 21 million ETH compared to today’s level. Over the past 2.5 years, over 6 million ETH have been pulled off crypto exchanges. During periods of heightened volatility, exchanges usually experience steady inflows, but rather the opposite took place. “Whoever is buying here isn’t selling back,” Waidmann stated.
ETH’s Price Bottom Identified
A recent post from Ali Charts, a seasoned crypto analyst, has shed light on Ethereum’s price bottom and how it will occur. The expert’s analysis is anchored on the Ethereum Delta Price metric, which appears to have identified the last two market bottoms for the altcoin.
Since Delta Price reflects the connection between investors‘ cost basis and miner production cost, it has consistently highlighted deep accumulation zones, making it crucial in deterring price bottoms. After examining the metric, Ali Charts highlighted that ETH’s potential price bottom sits near $700. If history repeats, the altcoin could experience a retest of the $700 level before the next sustained upward trend occurs.
Featured image from Pxfuel, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.