Ethereum’s user base and network activity are surging, driven by a rapid spike in daily address creation.
Calling out this development, market analyst Peter noted that Ethereum recently registered more than 256,000 new daily addresses, a surge seen only twice before.
First, ahead of the 2017 bull run and right before ETH set new all-time highs of $4,878 in 2021. History may not repeat, but it’s echoing loudly.
Therefore, Ethereum is experiencing a burst of attention and on-chain engagement, signaling a potentially bullish setup, with momentum building for a possible price breakout.
At the time of this writing, Ethereum was up by 5.30% in the past 24 hours to trade at $3,643.
Meanwhile, a renowned market analyst recently predicted that Ethereum could soar to $13,000 by Q4 2025, calling the target both bold and achievable.
Ethereum ETFs Continue Shining
According to market analyst Peter, “ETH ETFs are finally waking up. In July alone, over $4B flowed into ETHA, the iShares Ethereum Trust ETF. That’s a newmonthly record.”
Therefore, as more capital flowed into BlackRock’s ETHA in a single month than ever before, a strong case is being made for the Ethereum ETF ecosystem because it has crossed the threshold into legitimacy.
This explains why ETH is targeting the psychological price of $4,800 as BlackRock advances plans to enable staking in Spot ETH ETF.
