$ETHthe native cryptocurrency of smart contract giant Ethereum, rose about 3% during Friday’s U.S. market hours, trading at $2,254. The rally comes as the broader market regains a sense of relief in the absence of any major geopolitical news that could jeopardize the temporary ceasefire between the United States, Iran, and Israel. Additionally, Ethereum price gained further momentum as the network’s daily transfers reached new highs, predicting substantial demand for the blockchain.
$ETH Number of remittances reaches 1.3 million as price lags to nearly $2.1 million
Ether transfers are surging again, with a 7-day simple moving average of over 1.3 million by early 2026. According to CryptoQuant data, this amount is equal to the last high in mid-February, making this indicator one of the most solid points since the beginning of 2016.
The chart shows two lines: the price in USD (black) and the number of transfers (blue), with the 7-day SMA overlaid. Although remittance activity bottomed out in late 2024, it rose steadily through 2025 and has recently risen to new heights. Daily transfers frequently exceed 1 million, reflecting consistent network usage.
On the other hand, the price of Ethereum remains at a level of around 2,100. This is significantly lower than the asset’s all-time highs in past market cycles, establishing a notable disconnect between on-chain activity and market valuation as demonstrated across the timeline.
Total transfers are the sum of all transactions that transfer assets on the Ethereum blockchain, including both direct sends, DeFi interactions, NFT activity, and layer 2 payments. Increasing volume means that involvement in smart contract applications is increasing. Such transfers also contribute to the consumption of gas fees, but this is part of Ethereum’s inherent mechanism of consuming a portion of the fees, reducing the supply in the long run.
This number shows that blockchain activity continues even though price movements remain range-bound.
Ethereum price attempts bullish breakout from multi-month resistance trendline
Over the past two weeks, Ethereum price has slowly and steadily recovered from $1,937 to its current trading price of $2,263. This rally was fueled by the recent announcement of a two-week ceasefire on the back of a significant spike in trading volumes.
Today’s price increase indicates that Ethereum price could break out of the six-month resistance trend line at $2,250. A breakout at the close of the daily candlestick would give buyers greater control over the asset, potentially allowing it to recover to $2,374 and then move towards $2,630.
On the contrary, if sellers continue to hold to this resistance, Ethereum price could turn back down and break through the 20-day and 50-day exponential moving averages to revisit the $2,000 psychological level.
