Ethereum Sets Network Speed Records
Ethereum [ETH], one of the leading cryptocurrencies, is once again making headlines with record-breaking network speeds and significant interest from major investors. Over the past 48 hours, the Ethereum ecosystem has reached unprecedented levels of activity, sparking conversations about a potential breakout on the horizon.
Breaking Records: Ethereum Ecosystem in Overdrive
According to recent on-chain data, Ethereum’s network throughput peaked at an all-time high of 3,872 transactions per second (TPS). This milestone came just hours after setting a previous record of 3,453 TPS, showcasing the ecosystem’s growing momentum. Notably, transaction activity remained elevated at over 2,600 TPS for a sustained period, with Base Chain [BASE] alone accounting for 1,800 TPS — more than half of the overall activity. Other prominent players like Arbitrum [ARB] also contributed significantly, clocking in at 477 TPS.
As Ethereum’s infrastructure evolves, layer 2 networks like Base Chain and newer entrants such as Soneium are playing a pivotal role in driving transaction volumes, further solidifying Ethereum’s position as a technological leader in the blockchain space.
Whales Accumulate Over $1 Billion in ETH
A major highlight has been the recent activity of cryptocurrency whales. In just 48 hours, on-chain data reveals that these large investors have accumulated a staggering 323,523 ETH, worth approximately $1.12 billion. These moves come amidst a soft pullback in Ethereum’s price, with whale entry points ranging between $3,247 and $3,515 per ETH.
One notable transaction involved a wallet that previously borrowed 66,000 ETH from Aave [AAVE]. This same address acquired 257,543 ETH, valued at $896 million, in a single move. Similarly, a cluster of wallets, often referred to as the “7 siblings,” purchased an additional 37,971 ETH, while new wallets together accumulated more than 14,000 ETH.
Is Ethereum Positioned for a Breakout?
Experts and analysts are closely watching Ethereum’s price movements, especially as it sits in a multi-year compression zone — a pattern also observed during the 2016-2018 and 2018-2021 periods. Historically, these zones have resolved in explosive upside momentum, and the current structure could be setting up for history to repeat itself.
Based on technical analysis, Ethereum appears to be retesting the $3,800-$4,200 supply band, while still maintaining its multi-year rising trendline. If this pattern holds true, the current dip could mark the final retest before a macro-level breakout.
Get Started with Ethereum
If you’re considering investing in Ethereum, ensuring security is key. A great way to store your cryptocurrency is through a Ledger Nano X, a premium hardware wallet designed to keep your assets safe. Protect your ETH while you prepare for the potential next big crypto boom!
Conclusion
With record-breaking performance and substantial whale investments, Ethereum is once again at the center of attention. Whether you’re a seasoned investor or just exploring the world of cryptocurrency, the next few weeks could prove pivotal for the future of this leading blockchain network.
