- Ethereum’s new adoption rate was on the rise, nearing 40%.
- ETH was seeing increased demand from new users, especially large players.
Although Ethereum [ETH] has struggled on its price charts, its fundamentals are strengthening.
In fact, over the past week, the altcoin’s new adoption rate has recovered. According to IntoTheBlock, Ethereum’s new adoption rate spiked and approached 40% last week.
An upswing in adoption rate signals user growth.
Source: IntoTheBlock
A rise in adoption rate signals strong user interest, with ETH seeing a surge in new participants. Over the past week, Ethereum’s unique depositors have climbed to 1.83 million, highlighting increased engagement.
This growth suggests more individuals are actively interacting with Ethereum through CEXs, staking, or DeFi protocols. Typically, a rise in unique depositors reflects renewed market interest in ETH and its ecosystem.
Source: CryptoQuant
Given the current market conditions, the growth in users and adoption reflects increasing interest beyond speculation. Investors and users are entering the market with long-term intent, rather than seeking short-term gains.
When demand moves beyond speculation, it indicates market maturity and potential stability.
The key question is whether this rising demand is impacting Ethereum’s price charts and overall market performance.
Who’s actively engaging with ETH
According to AMBCrypto’s analysis, the most active users are mostly large entities and individuals or large holders.
As ETH sees a recovery in interest, large holders have recorded the most activity in the market. As such, large holders’ transactions are on the rise, reaching 4.34k, an increase from 2.33k.
An increase in large transactions suggests that whales are highly active in either selling or buying.
Source: IntoTheBlock
Looking at exchange netflow for large holders, it shows that they are more active on the buy side. As such, the altcoin has seen 392.95k ETH of inflow from large holders, with an outflow of 390k. This leaves a positive netflow of 2k ETH.
As such, whales are active on both the buy and sell side, but buyers outweigh sellers.
This suggests that the growing interest in the market is mostly favoring a potential recovery on the altcoin’s price and charts, and new users are entering the market to expect that Ethereum’s fortunes will change.
Significantly, with new users showing demand for ETH while the buy side remains strong, on-chain conditions position Ethereum at a favorable point.
Source: IntoTheBlock
Therefore, Ethereum is experiencing a strong recovery in user demand, which typically reinforces its fundamentals and supports price rebounds. If ETH adoption continues to rise, its impact could soon be visible in price movements.
A sustained uptrend could push ETH back to $1,660, while increased volatility might trigger a correction toward $1,540.
The next move depends on market stability and whether demand can outpace selling pressure.
