Ethereum Network Activity Soars; Price Breaks Record High of $4,500

Ethereum’s network velocity has reached 8.05, nearing its historical peak of 8.3, indicating a surge in transaction activity despite price consolidation. Institutional investors are driving ETH ETF holdings to over 3.51 million ETH, with prominent firms like BlackRock and Fidelity leading the charge on weekly accumulation. This increased demand is being reflected in a trading price that recently surpassed $2,400, prompting analysts to expect a breakout towards $3,000.