Ethereum Network Metrics Rebound as Fees and Staking Improve

Ethereum's price has shown no clear direction in recent times, but an analysis suggests that on-chain indicators are pointing towards a network recovery.

The median transaction fee and priority fees have seen significant increases over the past week, with a rise of about 86% and 16% respectively. This marks a notable shift from the previous three months, where these fees were significantly lower than their 90-day averages.

New smart contract deployments have also been on the rise, with numbers 190% above the 90-day average. This indicates that developers are still actively working on the Ethereum network.

The recent increase in fees and development activity suggests that the strength in the Ethereum market is coming from expanded real network use rather than speculative trading.