Ethereum Network Growth Hits 4-Month Peak! Can the ETH Bulls Pick from Here?

[Sophie Robert]

The Ethereum network has reached an impressive milestone, hitting a four-month peak in growth! 🎉📈 With the recent surge in activity and adoption, it's clear that Ethereum is making significant strides in the crypto world. 🌐💪

✅ ETH faced difficulties in its attempt to rally past the $2000 mark over the past four months, Despite this, the weekly price action of Ethereum indicates that the bulls are still in control of the bear market rally.

Here's what other milestones needs attention which ETH achievement:

🔹 Ethereum On-chain Activity On the Rise - A recent on-chain study conducted by the market intelligence platform Santiment reveals that Ethereum’s network growth has reached its four-month peak, despite the market’s indecisiveness.

🔹 Increased Transactions - According to Santiment, this exponential increase in Ethereum addresses directly indicates an imminent growth in market capitalization.

Source - https://twitter.com/santimentfeed/status/1677076747823747074

Ethereum and Bitcoin:
Ethereum is largely adopted by institutional investors just like Bitcoin. As a result, its price action is likely to follow that of Bitcoin in the coming weeks despite the emergence of the alt season.