The Ethereum Network Soars as USDC Activity Reaches a New High
As on-chain activity around USD Coin (USDC) hits new highs, Ethereum usage is increasing quickly. Early 2025 data shows that the number of USDC transactions, supply, and transfer volume on the ETH network had all increased to record highs.
Increases in USDC Activity on Ethereum
According to data, Ethereum-based USDC activity is hitting all-time highs in important measures. The amount of USDC on ETH that is currently outstanding is at its highest point ever, at $40 billion. This expansion shows that Ethereum is becoming more and more trusted as the main stablecoin transaction network.
USDC’s monthly transfer volume has risen to over $635 billion, exceeding previous highs from 2022 and 2023. This increase is a result of more stable assets being transferred via the ETH network. In the meantime, the number of transfers every month has surpassed 7.2 million, setting yet another record. The high volume of transfers suggests growing popularity among both institutional and retail consumers.
Market watchers point out that more network participation frequently corresponds with such increases in USDC activity. The blockchain’s function as a layer for financial settlement seems to be growing while Ethereum still handles the majority of USDC supply and transactions.
Technical Structure and Price Movement of Ethereum
The price of ETH has displayed erratic short-term behavior despite the spike in stablecoin adoption. Ethereum is currently trading at a crucial technical level on the 4-hour chart, according to a new analysis by analyst TheMoonCarl. The price is now challenging an ascending trendline support, and a possible double top has formed close to the $2,700 resistance zone.
If this support level is broken, Ethereum may drop 10% from its current levels, to about $2,200. Ethereum might stay in a bullish ascending triangle formation, nevertheless, if support remains, which might let more efforts to overcome resistance.
The short-term perspective reflected in the current technical setup is neutral to slightly bearish. Longer-term data, however, reveals more solid foundations. A possible move toward fresh bullish momentum might be supported by growing stablecoin usage, consistent cash inflows, and rising Ethereum network activity.
Among all blockchains, Ethereum leads in capital inflows.
These days, Ethereum receives more money than any other blockchain network. In terms of positive fund transfers, Ethereum leads all other chains, followed by Arbitrum, Polygon, and Base. Each of these is a part of the Ethereum ecosystem, either as a second layer solution or as the foundation.
More money has left Solana, OP Mainnet, and Berachain than entered, along with several other networking tokens. This trend indicates that people and businesses are beginning to pay more attention to Ethereum and its associated topics.
An ecosystem’s growing user engagement and optimism are typically reflected in the flow of new tokens. The fresh reserve flow supports Ethereum’s resurgence as a top blockchain for decentralized finance and applications, especially if stablecoins gain traction.
The velocity of Ethereum has reached new multi-year highs.
Ethereum’s transactional velocity is increasing, according to further statistics. Now at 8.0, the network’s ETH activity rate or velocity is at its greatest level in years. An increase in the indicator frequently indicates that more people are considering adopting Ethereum for on-chain operations.
Earlier in the year, the price of ETH and velocity had diverged, but that difference is currently being closed. Since dropping below $1,500, the value of ETH has risen back above $2,500. According to analysts, this shift in market tendencies raises the possibility that demand may once more drive pricing.
The market appears to be recovering if transaction speeds are increasing and prices are rising. Some predict that Ethereum’s price could shortly fall to between $3,500 and $3,900 if current trends continue.
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