ETH daily transactions hit all-time high, analyst notes strong fundamentals

According to crypto analyst CryptoOnchain, the number of daily transactions on Ethereum has surpassed 3.61 million, setting a new all-time high. The analyst noted that this rapid increase in network activity has occurred even as speculative demand from retail investors has recently slowed. Historically, periods where fundamental growth outpaces price have been interpreted as undervalued accumulation phases, and high network activity has often served as a leading indicator for long-term price rebounds, CryptoOnchain added.