Ethereum sees $60B in weekly transactions, 78% profitable
- Ethereum recorded $60 billion in transactions over one week.
- 78% of Ethereum holders remain profitable.
- Network activity shows an increase in large transactions and significant involvement from institutional investors.
- The total value locked (TVL) in the Ethereum network is $59.327 billion.
Ethereum Transactions Reach $60 Billion in One Week
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, saw its transaction volume rise to $60 billion over the past week. This is the highest value since July and indicates growing demand for the network. According to data from IntoTheBlock, transaction volume has steadily recovered since mid-2022, after declining during a market downturn.
Price Development and Volume Dynamics
Historically, Ethereum’s price and transaction volume often move in tandem. During the peak periods at the end of 2021 and early 2022, both values reached their zenith before declining in the second half of 2022 due to a bearish market environment. At the time of writing, Ethereum is trading at $3,178.93, with a 24-hour trading volume of $48.48 billion. Despite a slight 0.70% drop in the last 24 hours, ETH gained 28.92% over the past week. The increase in transaction volume points to growing network usage, regardless of short-term price fluctuations.
Key On-Chain Metrics
Data from DefiLlama shows that the total value locked (TVL) in the Ethereum network is $59.327 billion. Stablecoins issued on the Ethereum blockchain have a combined market capitalization of $89.517 billion. Over the last 24 hours, transactions worth $2.387 billion were processed, with inflows amounting to $72.74 million. The number of active addresses stood at 391,248, while 64,793 new addresses were created. In total, 1.23 million transactions were carried out.
Notably, transactions worth more than $100,000 accounted for $51 billion of the weekly transaction volume. This suggests strong participation from large investors.
Holder Structure and Market Signals
Ethereum remains profitable for the majority of holders, with 78% of addresses currently in the green. Large holders, or wallets with a significant share of ETH, control 53% of the total supply, indicating a high concentration of assets. Ethereum also shows a strong correlation of 0.84 with Bitcoin, meaning ETH’s price often moves in line with the broader crypto market.
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The majority of Ethereum holders are long-term, with 74% having held their assets for more than a year. Net outflows from exchanges show that $388.68 million worth of ETH was withdrawn from trading platforms over the past week. This suggests a lower willingness to sell, as more users store their tokens in private wallets.
Market signals are mostly positive. Indicators such as “In the Money” and “Concentration” show a bullish tendency. However, network growth and large transactions remain neutral, as does the momentum in the futures market.
Our Assessment
Ethereum shows strong network activity and positive on-chain indicators, pointing to sustained demand and participation. Despite short-term price fluctuations, the long-term outlook for Ethereum holders remains positive, especially for those holding their assets long-term. The high involvement of large investors and increasing outflows from exchanges suggest that confidence in the network’s future remains strong. Ethereum continues to be a key player in the crypto ecosystem, particularly in the areas of decentralized finance (DeFi) and stablecoins.
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Price | $3,076.81 |
| 24h % | -7.56 % |
| 7d % | 10.17 % |
| 30d % | 20.07 % |
| 60d % | 27.67 % |
| 1y % | 50.07 % |
| Market Cap | $370,217,667,013.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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