Is Ethereum Undervalued? Whales Think So
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Despite ETH’s price volatility, Ethereum’s network has recorded historic transaction counts.
Ethereum (ETH) began climbing again this week, along with the rest of the market. However, it remains trapped under the $2,879 level for now.
Even as it struggles to spearhead the much-anticipated “altseason,” its network activity is telling a louder story.
Historic Activity on Ethereum
On June 25, Ethereum recorded 1,750,940 confirmed transactions. This was the third-highest daily count in its history and breaking a months-long downward trend in on-chain activity.
The “Ethereum: Transaction Count (Total)” metric captures all confirmed network transactions, including ETH transfers, DeFi operations, smart contract executions, and DApp interactions, and gives a clear insight into real usage. Such high activity levels have not been seen since January 14, 2024, when the cryptocurrency set its all-time high record with 1,961,144 transactions before usage gradually declined.
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