Ethereum's Network Activity Fails to Lift Prices Amidst Record Highs

Ethereum's network activity has reached historic highs, but this hasn't translated to higher prices. According to CryptoQuant, Ethereum could fall to $1,500 if current conditions persist.

Julio Moreno, head of research at CryptoQuant, said that level could arrive by the end of the third quarter or early in the fourth quarter of this year.

Daily active addresses on Ethereum hit an all-time high last month, surpassing levels recorded during the 2021 bull market. However, Ethereum has dropped more than 50% from its most recent cycle peak.