Ethereum Network Usage Hits Record High—But Traders More Bullish on Gold
Ethereum’s daily transaction count reached an all-time high of 2.023 million, driven by increased adoption of real-world asset tokenization and broader market recovery. Despite this surge in on-chain activity, Ethereum’s price has lagged, up just 2.2% in the past 24 hours and 8.9% over the week, trading at $3,240. Market sentiment remains cautious: prediction market traders are more optimistic about gold reaching $5,000 than Ethereum hitting similar milestones, reflecting short-term reactions to macroeconomic uncertainty. However, confidence is somewhat higher for Ethereum rallying to $4,000 in the near term. The disconnect between network usage and price is attributed to the influence of market psychology and liquidity on Ethereum’s short-term valuation. Analysts emphasize Ethereum’s role as core infrastructure for DeFi and tokenized assets, suggesting that increased long-term holding and usage of ETH in these areas could drive price appreciation and reinforce its dominance in digital asset innovation.
