Ethereum is experiencing a surge in price and activity. The cryptocurrency has broken past the $3,700 mark, with over 16.4 million active addresses on its network, a 36% jump this week. This robust growth in activity is driven by increasing DeFi adoption and strong market sentiment. The positive momentum is reflected in the price action, with more than $2.16 billion worth of short positions facing liquidation as ETH trades above $3,700. Ethereum also outperformed Bitcoin in Q2 2025, securing a 50.29% gain while Bitcoin saw a more modest 31.43% increase. This shift towards Ethereum’s dominance indicates that the network is increasingly gaining traction and influence within the crypto market.