Ethereum Network Growth Suggests Undervaluation

Ethereum's price has been under pressure since August 2025 when it reached an all-time high of $4,953. Since then, its market capitalization has fallen to around $230 billion from $550 billion.

However, despite the decline in price, Ethereum's network activity has continued to grow. According to Alphractal data, daily transactions have remained above 2.5 million during most of the recent period, with a current rate of 2.56 million transactions per day.

This growth is attributed to the increasing adoption of Ethereum by investors and users. João Wedson from Alphractal notes that 'You may be bearish on the price, but you cannot be bearish on the fundamentals and the actual adoption of the blockchain.'

The total value locked (TVL) in Ethereum's ecosystem has also seen significant growth, with $4.92 billion in fresh capital committed between July 1st and now.