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Ethereum (ETH) has recorded a massive spike in its transactions as a result of its growing dominance in stablecoins, DeFi and on-chain trading. As highlighted by an Ethereum advocate, Joseph Young, the chain has hit a new all-time high (ATH) of 889,300 users in its weekly count.
Can weekly active users push Ethereum to $4,000?
Notably, it means that there are 889,300 unique wallets actively sending transactions on the Ethereum blockchain each week. This suggests increased real demand for Ethereum’s network, not just speculation.
The weekly transaction metric is key for understanding network health, adoption and utility. Generally, it signals that more people are interacting with smart contracts and more economic activity is happening on-chain.
According to Young, Ethereum’s dominance and growth are primarily driven by three critical sectors: stablecoins, decentralized finance (DeFi) and trading. The most stablecoin volumes, such as USDT, DAI and USDC, are still settled on Ethereum and its layer-2 systems, contributing to the soaring transaction counts.
Additionally, DeFi lending, staking, derivatives and yield protocols have also increased activities on-chain. This implies that Ethereum remains a core settlement layer for serious on-chain finance for many users in the cryptocurrency space.
This spike in transaction metrics could catalyze the Ethereum price to break out toward the $4,000 zone. Ethereum hit an ATH of $4,953.73 some five months ago, on Aug. 24, 2025, and despite the anticipation that it would cross the $5,000 resistance, the coin failed to breach the resistance level.
With the current increased activity, Ethereum’s upward journey to $4,000 might progress faster as user confidence grows. As of press time, Ethereum is changing hands at $3,138.34, which represents a 0.76% increase in the last 24 hours.
Trading volume is also on the rise and has increased by 10.32% to $18.28 billion within the same time frame. Ethereum is likely to leverage the increased volume to breach the $3,200 resistance. Such a development could trigger a breakout for higher price levels.
Post-Fusaka scaling boosts Ethereum’s momentum
Meanwhile, Joseph Young has observed that "post-Fusaka, Ethereum is scaling very effectively."
He argues that the Fusaka upgrade has positioned Ethereum to support more users without breaking the network or slowing it down.
This explains the new activity, which resulted in a new all-time high for Ethereum. It also indicates that Ethereum’s scaling roadmap is on track, as users are not abandoning the network.
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