Ethereum's network activity is surging, fueled by DeFi and NFTs, as ETH surpasses $4000 and eyes a new all-time high. But will it last?

Ethereum is making waves, folks! The price is hovering around that sweet $4000 mark, and the network is buzzing like a beehive. Let's dive into what's making ETH tick and what to watch out for.
Ethereum's Bullish Momentum: What's Driving the Surge?
Ethereum's recent price surge is supported by a bunch of factors. We're seeing strong technical patterns, and the growing use of ETH in DeFi and NFTs is fueling the fire. The breakout above $4,000 wasn't just a fluke; it came with high trading volume, signaling real confidence in the market.
Analysts are throwing around price targets between $4,350 and $4,500. ETH has already smashed through key Fibonacci levels, which often means faster price movement is on the horizon.
On-Chain Activity: More Than Just Hype
The network isn't just seeing speculative trading. Daily transactions are through the roof, exceeding 1.8 million and a 7-day average above 1.74 million—beating records from 2021. This is real-world usage, driven by DeFi platforms and NFT marketplaces. Even regulatory clarity, like the SEC's stance on staking, has added fuel to the fire.
Transaction volume hit a record in July 2025, with over 46 million transactions processed. Active addresses are also up, showing broader adoption. And get this: fees are still relatively low, between $0 and $4 per transaction. Block utilization is only around 50%, so there's still room to grow without the network getting too congested.
Supply Squeeze: ETH Leaving Exchanges
Here's a kicker: the amount of ETH on exchanges has dropped to its lowest level since 2016. People are holding onto their ETH for the long haul, which could tighten liquidity and push prices even higher.
Potential Hurdles and What to Watch For
Keep an eye on that $4,500 level. Breaking through that could mean a more aggressive upward trend. But, some folks are saying we might see a correction around the $4,800–$4,900 range, potentially pulling back to $3,900–$4,000. These pullbacks are normal and can be good entry points for long-term investors.
Also, watch Bitcoin's price action and any regulatory news. If the bullish trend keeps going, Ethereum could lead the next big crypto bull cycle.
Final Thoughts
Ethereum's network is popping, the price is looking good, and the future seems bright. Keep your eyes peeled, stay informed, and maybe, just maybe, you'll catch the wave at the right time. Happy trading, ya'll!