Summary
- According to CryptoQuant, the seven-day moving average of Ethereum’s total transfer count has set a new all-time high.
- The report said the network’s intrinsic value is rising faster than the market’s valuation, suggesting Ether may currently be undervalued.
- The contributor emphasized that lower circulating supply pressure tied to DeFi, Layer 2 and fee burning could become a long-term driver of price gains.
Forecast Trend Report by Period
Ethereum network activity has reached a record high, underscoring a disconnect between the token’s price and its underlying fundamentals.
CryptoQuant contributor CryptoOnchain wrote in a June 11 report that the seven-day moving average of Ethereum’s total transfer count surpassed 1.3 million, setting a fresh all-time high. The metric points to a sharp increase in network usage.
Transaction activity is at a peak, but Ether remains below its previous highs. That suggests the network’s intrinsic value is rising faster than the market’s valuation, leaving the token potentially undervalued.
The report said the increase reflects broader activity across the Ethereum ecosystem, including decentralized finance, Layer 2 scaling solutions and greater use of smart contracts. It added that the trend shows Ethereum strengthening its base of real-world use beyond its role as an investment asset.
Rising network activity is also drawing attention to Ethereum’s fee-burning mechanism. Because the network burns part of transaction fees, heavier usage increases pressure to reduce circulating supply, a factor that could support prices over the long term.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
