Ethereum Hits Record $60B Weekly Transaction Volume Amid Strong Market Indicators

Ethereum weekly transaction volume reached $60 billion, with bullish metrics across TVL, large transactions, and investor profitability. Despite minor 24-hour fluctuations, Ethereum continues to show substantial on-chain activity and strong market sentiment.

Ethereum recent rally has sparked impressive growth in transaction volume, hitting a new high of $60 billion over the past week. At press time, Ethereum was trading at $3,178.93, with a slight 0.70% dip in the last 24 hours, though it’s seen an impressive 28.92% gain over the past week. DefiLlama reports the Total Value Locked (TVL) in Ethereum network at $59.327 billion, highlighting its role in DeFi.

Ethereum weekly on-chain activity shows robust participation from large investors, with transactions exceeding $100,000 accounting for $51 billion in value. Additionally, active addresses have surged to 391,248, and 64,793 new addresses were created within the past day, pointing to sustained network growth. Ethereum correlation of 0.84 with Bitcoin also suggests that its price closely follows broader market trends, strengthening its position within the crypto ecosystem.

In terms of holdings, 78% of Ethereum investors are currently in profit, while 53% of the token supply is concentrated among large holders. The majority of investors are long-term holders, with 74% of addresses holding ETH for over a year. Net exchange flows further indicate a bullish sentiment, as $388.68 million in ETH has been withdrawn from exchanges over the past week, suggesting users are transferring assets to private wallets and reducing sell pressure.

Ethereum market outlook remains positive, with indicators such as “In the Money” and “Concentration” showing continued bullish trends, while other signals like Net Network Growth and Large Transactions remain neutral.

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