Ethereum’s price is bearish despite massive fundamental growth: here’s what’s next
Ethereum has seen its transaction volumes soar, active addresses hit new all-time highs and daily fees surpass Bitcoin, but the price of ETH/USD has failed to spike in past weeks
Ethereum, cryptocurrency’s second-largest by market cap, has added just over 1% to its value in the past 24 hours. Ethereum has also seen a surge in active addresses to all-time highs of over 492,000, with more Ether leaving exchanges as hodlers increase or users lock up value in DeFi protocols.
The network of the second-largest coin has also seen a record transaction volume spike, with network fees hitting multi-year highs to surpass those of Bitcoin. Over the past week, Ethereum touched price levels near the major resistance at $250.