Ethereum’s native token, Ether (ETH), has surged past the $4,000 barrier for the first time in eight months, briefly touching $4,017. The rally is fueled by a combination of new factors, including a massive influx of capital from corporate treasury companies that are aggressively accumulating the token, similar to Michael Saylor’s Bitcoin strategy.
Additionally, U.S. spot Ethereum ETFs have attracted nearly $5 billion in inflows over the past month, outperforming Bitcoin ETFs. This price momentum is backed by record-breaking on-chain activity, with July marking the busiest month in the network’s history with over 46 million transactions. Despite the recent gains, ETH remains 18% below its all-time high.
The Ethereum network is experiencing unprecedented activity, with daily transactions and staked ETH reaching new all-time highs. The seven-day average for daily transactions recently surged to 1.74 million, surpassing the previous peak set in May 2021. This significant increase in network usage comes amid growing optimism within the regulatory landscape for liquid staking.
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