Ethereum’s daily trading reached historic (ATH) of 1.74 million people on August 5, according to the seven-day mobile average.
In this way, it exceeded the 1.65 million mark established in May 2021, reflecting a sustained increase in activity. On-chain Renewed interest in networks.
Similarly, it should be noted that Julio has registered 46.67 million transactions, the largest monthly transaction count in Ethereum history.
Another fact explaining the increase in activity On-chain At Ethereum, the number of active addresses increased to 683,520 on August 5th, below the 743,730 historical record recorded on May 12, 2021.
Increased activity at Ethereum directly affects the price of its ethher (eth)its native currency. That means each transaction needs an ETH to pay for the gas, which creates demand for the asset.
If this situation is maintained, ETH prices will be bullish. This will be negotiated for more than $3,800 when this memo is published.
Vincent Liu, director of research at Kronos Research, emphasizes that interest in Ethereum is driven by US efforts to achieve clarity in cryptocurrency regulations. Institutional accumulation, one of the market trends.
As reported by Cryptootics, more and more companies can incorporate ETH into the Corporate Treasury Department to get additional performance through staking.
This sample of financial phenomenon is 3 million ETH is in the hands of the foundationcompanies, DAO protocols, government agencies.
Liu also believes that the price of the asset does not yet reflect an increase in activity On-chain And he believes that the great catalyst is that the U.S. Stock Exchange and the Securities Commission (SEC) will approve integration into staking bag (ETF) funds.
