🔹 Ethereum Network Activity Up 56% Before ETF
ETH prices did not react to the S1 filing news on Friday. However, online data suggests investors are bracing for major trading activity in the coming week.
📈 A week ago, June 17,515,610 ETH wallets made transactions. Network utilization was in a tight 5% range until Friday, June 21, when news of the S-1 filing broke. Since then, Ethereum has recorded a whopping 56% surge in network activity, reaching 806,500 active addresses.
✔️ When there is a significant increase in the number of addresses, this indicates that many investors may be reacting to or preparing for a major event. Essentially, it is only a matter of time before this 56% surge in network activity is reflected in the price of ETH and we could potentially see a return to the $4,000 level.
