ETH fell back to 3800, but the chain is even hotter! 1.98 million addresses are working together, is a rebound coming?

Vitalik 2025-10-31 15:19 96127人围观 ETH

Enter the community for free, do not promote exchanges, do not follow links to enter the skirt. Add Q: 946112505 The recent market situation of Ethereum is a bit exciting. After the Federal Reserve announced an interest rate cut, ETH also followed suit an

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The market for Ethereum has been a bit exciting recently.
After the Federal Reserve announced an interest rate cut, ETH also followed suit and "falled first" - plunging more than 2.6% in the past 24 hours, hitting a low of $3,800.
But what’s interesting is that the activity on the chain has hit a record high, indicating that the “heartbeat” of the ecosystem is getting stronger.

Activity on the chain soars to a new high: 1.98 million addresses are in action!

The latest data from CryptoQuant shows that the daily activity index of the Ethereum ecosystem has soared to 1.985 million addresses, setting a historical record!
This is not a short-term "flush", but real users in various fields such as DeFi, NFT, and markets are active.

To put it simply - although prices have dropped, people are still there and the ecology is still hot.

Analysts note that this “distributed activity” is very healthy:
Funds are not flowing into just one project, but towards more ETH-based tokens.
This means that the breadth of the market is expanding and liquidity is more balanced.

Technical: Key support is about to be tested

In the past few days, Ethereum has fallen from $4,000 to $3,800, a drop of about 10%.
ETH is currently approaching an important support - the flag-shaped lower track of $3,500.

Technically, this is a very critical "bottom line".
If it can hold on, it will not only stabilize the situation, but may even usher in a rebound of more than 20%, with the target pointing to $4,400!

But if it falls below, short-term fluctuations may intensify.
Therefore, this position is the "life and death line" that the market will look at next.

Market Sentiment: Fear Rising, But Signs Not All Bad

ETH's fear and greed index dropped to 35, indicating that everyone's sentiment is conservative.
However, historical experience tells us that when the market is most fearful, it is often when opportunities lurk.

To summarize:

On-chain activity reaches a record high, and ecological popularity continues unabated
ETH price approaches key support, may welcome rebound window
Investment sentiment turns cold, but a new starting point may be brewing

Ethereum’s current decline is more like a “respite” than an end.
If the $3,500 support holds, this "second guy" may be ready to sell again soon.
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