Ethereum Network Activity Surges as Whale Moves $2M in ETH

Ethereum's network activity has seen significant growth in recent days, with new addresses rising sharply. According to Ali Charts, daily new Ethereum addresses climbed from 121,210 on August 8 to 212,560 today, an increase of 91,350 addresses. This surge in network growth is considered a strong on-chain measure of user adoption, and sustained increases have historically come before major price rallies.

Meanwhile, Onchain Lens reported that a mysterious whale moved 884.55 ETH to two fresh wallets over the last day, worth approximately $1.66 million. The transfer was preceded by a swap involving 493.02 ETH for 928.57K USDT through CoW Protocol, valued at about $927,000 in ETH.

ETH currently trades near $1,880, holding above the key support level of $1,860. The resistance zone remains around $1,920-$1,960, and a break above this could potentially target $1,960.