- Ethereum price has rebounded amid a surge in stablecoin transaction volume, growing over 58% in the last month as fees decline and user activity rises.
- Despite strong fundamentals in DeFi and RWA sectors, ETH faces short-term technical resistance, with a potential retest of $2,120 if it fails to break higher.
Ethereum Stablecoin Activity Surges
Ethereum (ETH) is showing renewed strength, rising to $2,455 after rebounding from a recent low of $2,120. This uptick comes amid a notable surge in Ethereum-based stablecoin activity, suggesting growing demand and utility for the network. According to Artemis, the number of stablecoin addresses on Ethereum spiked 8.7% in the past month to over 2.4 million, while stablecoin supply grew 0.8% to $127 billion.
Transaction volumes paint an even more bullish picture. Ethereum’s adjusted stablecoin transaction volume surged by 58% to $530 billion, while unadjusted volume hit $1.1 trillion. These gains reflect improving sentiment and the network’s growing competitiveness as Ethereum gas fees continue to decline—addressing one of its biggest drawbacks versus Tron.
Ethereum Still Rules DeFi and RWA Markets
Beyond stablecoins, ETH remains the undisputed leader in the decentralized finance (DeFi) and real-world asset (RWA) tokenization sectors. Its total value locked (TVL) stands at over $133 billion—far surpassing Solana’s $19.7 billion and Bitcoin’s $4.7 billion. Key DeFi players like AAVE, Compound, and EigenLayer operate on Ethereum, reinforcing its dominance.
In the RWA space, Ethereum leads with over $7.5 billion in tokenized assets, ahead of ZKsync Era and Stellar. This strength is attracting institutional capital, with Ethereum ETFs recording over $1 billion in inflows this month alone, bringing the total to $4 billion.
ETH Price Technical Outlook: Bullish or Bearish?
From a technical standpoint, Ethereum recently formed a bullish flag pattern before dropping below the lower boundary during a market-wide selloff. It has since bounced back, now testing the lower end of that flag—a classic break-and-retest move.
While this could indicate a bearish continuation if ETH fails to reclaim the flag’s support, reclaiming $2,455 convincingly could reignite bullish momentum. A drop back to $2,120 remains possible, but strong on-chain fundamentals offer solid long-term support.
Ethereum’s price is at a critical crossroads. Explosive growth in stablecoin activity, DeFi leadership, and ETF inflows support the bulls—but technical resistance near $2,455 may keep traders cautious in the short term.
