{"id":7045,"date":"2025-08-07T05:08:00","date_gmt":"2025-08-07T05:08:00","guid":{"rendered":"https:\/\/bitunikey.com\/news\/eth-holds-3-6k-as-ethereum-daily-transactions-near-all-time-high\/"},"modified":"2025-08-07T05:08:06","modified_gmt":"2025-08-07T05:08:06","slug":"eth-holds-3-6k-as-ethereum-daily-transactions-near-all-time-high","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/eth-holds-3-6k-as-ethereum-daily-transactions-near-all-time-high\/","title":{"rendered":"ETH holds $3.6K as Ethereum daily transactions near all-time high"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum was trading at $3,658 at press time, posting a 2.2% gain over the last 24 hours as on-chain metrics show a surge in transaction activity.<\/p>\n<div id=\"cn-block-summary-block_f8346595640ab4b2c49d7b298f608493\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum is trading at $3,658, up 2.2% on the day but down 4.7% over the week.<\/li>\n<li>Daily Ethereum transactions hit 1.87M on Aug. 6, nearing record highs.<\/li>\n<li>Technical indicators show neutral momentum, with price consolidating between $3,450 and $3,920.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The price remains 30% higher than it was a month ago, even though it has slipped 4.7% over the past week. As buyers and sellers balance out, the current weekly range of $3,380 to $3,874 represents a period of sideways movement.\u00a0<\/p>\n<p>Meanwhile, there are indications that market activity is slowing down. Daily trading volume has dropped 15.6% to $22.2 billion, while derivatives volume is down more than 20% to $77.2 billion, according to Coinglass <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/XRP\" target=\"_blank\">data<\/a>. A slight decline in open interest indicates that there are fewer active positions in the market.<\/p>\n<h2 class=\"wp-block-heading\">Network activity climbs as stablecoin demand returns<\/h2>\n<p>Ethereum\u2019s (ETH) network usage is increasing sharply. Daily transactions rose to 1.87 million on Aug. 6, based on Etherscan <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/etherscan.io\/chart\/tx\" target=\"_blank\">data<\/a>, nearing the all-time high of 1.96 million recorded in Jan. 2024. The uptick marks a reversal from the trend seen last year, when Ethereum lost ground to faster, cheaper chains like Solana (SOL).<\/p>\n<p>Stablecoin activity, mainly Tether (USDT) and USD Coin (USDC), is driving a large portion of the transaction growth amid rising optimism regarding the U.S. legislative environment. On-chain usage has increased and market confidence is being restored thanks to the recently passed GENIUS Act, which clarifies regulations for dollar-backed stablecoins.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>In parallel, demand from institutional investors continues to grow. As reported by Nate Geraci, president of NovaDius Wealth, both ETH-treasury-holding companies and U.S. spot ETH ETFs have accumulated 1.6% of the total ETH supply each since early June, for a combined 3.2% share. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Wild stat\u2026<\/p>\n<p>Eth treasury companies &amp; spot eth ETFs have *each* bought approx 1.6% of current total eth supply since beginning of June.<\/p>\n<p>Look at this chart.<\/p>\n<p>via <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/Yogita_Khatri5?ref_src=twsrc%5Etfw\" target=\"_blank\">@Yogita_Khatri5<\/a> <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/fh5lPUA6UO\" target=\"_blank\">pic.twitter.com\/fh5lPUA6UO<\/a><\/p>\n<p>\u2014 Nate Geraci (@NateGeraci) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/NateGeraci\/status\/1953272814422937941?ref_src=twsrc%5Etfw\" target=\"_blank\">August 7, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Strategic ETH Reserve <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.strategicethreserve.xyz\/\" target=\"_blank\">data<\/a> shows that 64 companies now hold 3.03 million ETH, valued at around $11.8B. U.S. spot ETH ETFs net assets, on the other hand, have <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/m.sosovalue.com\/assets\/etf\/us-eth-spot\" target=\"_blank\">reached<\/a> $20.61 billion.<\/p>\n<h2 class=\"wp-block-heading\">Ethereum technical analysis<\/h2>\n<p>Ethereum is showing neutral momentum. The price is hovering just under the 20-day simple moving average at $3,685. The relative strength index is at 58, neither overbought nor oversold. Most oscillators, including the Stochastic, commodity channel index, and MACD, point to a balanced setup.<\/p>\n<p>Moving averages remain supportive. ETH is trading above its 10-day through 200-day exponential and simple moving averages. The awesome oscillator and momentum both exhibit some strength, but not enough to support a clear trend in either direction.<\/p>\n<p>The price may move toward $3,920 if it breaks above $3,685. Support at $3,450 is still crucial on the downside. For now, ETH appears to be consolidating while underlying demand continues to grow.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum was trading at $3,658 at press time, posting a 2.2% gain over the last 24 hours as on-chain metrics show a surge in transaction activity. Summary Ethereum is trading&hellip;<\/p>\n","protected":false},"author":1,"featured_media":4890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=7045"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7045\/revisions"}],"predecessor-version":[{"id":7046,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7045\/revisions\/7046"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/4890"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=7045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=7045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=7045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}