The recent surge in Ethereum’s active addresses and total value locked in DeFi projects indicates a potential bullish trend for ETH amidst fluctuating market conditions.
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Ethereum’s average active addresses surged to 670K.
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ETH’s recent decline exposed Trump’s WLFI to a $14.9M unrealized loss.
Ethereum’s ETH active addresses have surged by 37%, surpassing March 2024 highs and signaling increased network activity in early 2025.
Per blockchain analytics firm IntoTheBlock, the network addresses soared to 670K last week, up from over 400K in March 2024.
“The average number of active Ethereum addresses surpassed 620k last week, the highest since March 2024!”
Source: IntoTheBlock
Despite the fact that a single entity can have multiple addresses, the upward trend strongly suggests increasing adoption of the Ethereum network.
Big players driving DeFi activity?
Over the same period, ETH’s total value locked (TVL) jumped from $65 billion to $98 billion before retracting to $84 billion at press time.
For context, TVL measures the amount of capital locked within the DeFi ecosystem.
Within Ethereum, leading platforms such as Aave and Lido are responsible for the majority of the network’s TVL, collectively accounting for over $60 billion.
Source: DeFiLlama
Given that these platforms are well-regarded by institutional investors, it is plausible that significant entities are contributing to the rising network activity.
Additionally, President Trump’s World Liberty Finance (WLFI) has recently been a notable buyer of ETH. However, with ETH’s recent 8% drop to $3,000, the firm now faces an unrealized loss amounting to $14.9 million.
Source: LookOnChain
Currently, ETH’s price is in a bearish trend but continues to defend the vital support level at $3,000.
Nonetheless, the price has retested this support multiple times, leading to concerns about a potential downside breach, especially in light of ongoing bearish sentiment following the upcoming FOMC meeting.
Source: ETH/USDT, TradingView
Conversely, a price reversal could elevate ETH to the mid-range of $3,500 or the resistance area between $3,600 and $3,700.
Conclusion
In summary, the recent metrics of Ethereum suggest a renewed interest from both retail and institutional investors, which could reshape its future trajectory. As the market dynamics shift, vigilance is essential for traders navigating the current landscape. Maintaining a close eye on key support levels, alongside developments in the broader DeFi ecosystem, will be crucial for making informed investment decisions.
