**Ethereum Network Nears Peak Performance Amid Stagnant Prices**

Ethereum's price might be stuck in a rut, but its onchain activity is booming. Boomer Saraga, CEO of Khelp Financial, believes Ethereum is hitting all-time highs in network performance, suggesting the price will soon follow.

Key points:

- Ethereum's active users have surged, with over 2 million across Layer-1 and Layer-2.

- Total Value Locked (TVL) in Ethereum is at $48.88 billion, though down from its peak of $108 billion in November 2021.

- Despite positive fundamentals, Ether's price lags at $2,647, down 3.04% since Aug. 14.

Bitwise CIO Matt Hougan is optimistic, predicting Ether could surpass $5,000 by the end of 2024, driven by new spot Ethereum ETFs.

Stay tuned as Ethereum's fundamentals continue to strengthen, potentially setting the stage for future price gains.