Ethereum Activity Surges 50% But Price Stagnates Below $3,000

Ethereum’s blockchain activity has reached historic highs in 2025. The number of addresses that have transacted once or more this year broke new all-time highs, passing 55 million, and the total number of transactions in the last month passed 800 million. This trend points to a surge in network utilization, which often reflects higher demand for services and applications built on Ethereum.

Despite this surge in activity, the price of ETH remains relatively stable below the $3,000 mark. This stability contrasts sharply with the significant increase in on-chain activity, highlighting a disconnect between the network's utilization levels and its market valuation. The price of ETH is still under $3,000, glaring at the incongruity between the data on utilization levels and the price.

Recent price action shows that Ethereum trading is in a familiar range. A side-by-side comparison of daily charts from early 2024 and mid-2025 reveals almost identical consolidation patterns. Both periods display horizontal price movement within key support and resistance levels. In 2024, Ethereum found its way out of this range and traded up in price within a short period toward the $3,000 mark. A massive buildup and technical breakout signs preceded the rally. An identical arrangement developed in 2025, where the price briefly broke through resistance. The move did not, however, sustain itself, and the price retraced. Whether it is a repeating pattern or fractals, analysts tend to look at them as precursors to future action. If the current setup of Ethereum keeps the same patterns as before, a breakout may arise once again. The market players still keep track of these signals.

The three-month performance of Ethereum’s daily active addresses, combined with the movement of its price, portrays a clear picture. Activity started to climb strongly in the middle of April, and its level was high during the entire month of July. In the meantime, the price range was stable, as the price remained between 2,500 and 3,000. The regular address activity also indicates long-term network interest. Although the price remained in a narrow range during the process, user activity did not decrease. Such a disparity between the network growth and price performance is an indication of a potential disjunction between on-chain fundamentals and market valuation. A significant number of investors pay attention to correlating price trends and usage information. An increase in user activity coupled with a stable price is a common precursor of volatility. Ethereum is keeping at a level of intensive activity, and the market is waiting to see the following trend.