Ethereum Adoption Surges Amid Price Swings: Experts Weigh In on $4,000 Potential

Recent data reveals a continued surge in Ethereum’s adoption, even as the asset’s price experiences short-term fluctuations. 

On-chain metrics show Ethereum’s network adding more than 200,000 new addresses daily, a notable jump from last year’s average of 100,000–120,000. Observers view this spike in user growth as a strong signal of Ethereum’s increasing integration into both digital and financial ecosystems.

Source: The Block

Also, According to Glassnode and other on-chain analytics platforms, the number of Ethereum addresses holding non-zero balances now stands at 136 million—an all-time high. Analysts interpret this uptick as evidence of sustained, long-term interest in the world’s second-largest cryptocurrency. The growing address count hints that investors are looking beyond short-term price volatility and are committing to Ethereum’s broader utility, which ranges from decentralized finance (DeFi) applications to non-fungible tokens (NFTs).

Despite these positive fundamentals, ETH’s price recently dropped by about 5.57%. Some market observers attribute the move to overall cryptocurrency volatility, although the dip has not deterred large holders. Several “mega whales” have reportedly seized the opportunity to increase their Ethereum positions. Crypto analyst Ali (@ali_charts on X) noted that at least 13 addresses holding more than 10,000 ETH each joined the network over the last 24 hours. Their renewed buying suggests institutional and large-scale investors view the current price levels as attractive entry points.

Adding to this trend, Donald Trump’s decentralized finance project, World Liberty Financial (WLF), made headlines with a purchase of 3,247 ETH—worth around $10 million—this week. This acquisition is part of a larger buying spree in which WLF has accumulated 39,242 ETH at an average price of $3,312 per token. Observers like Santiment see WLF’s action as reflective of Ethereum’s growing institutional appeal, underscoring the asset’s evolving role as a strategic holding in the broader crypto landscape.

Beyond accumulating whales and institutional entrants, the Ethereum Foundation also made modest asset moves. According to Spot On Chain data, the organization sold 300 ETH this year—worth nearly $1 million in total. Yet, these sales represent only a small fraction of the Foundation’s reported 269,175 ETH holdings, suggesting a measured approach to treasury management rather than a bearish shift in strategy.

Technical Analysis from Ethereum Experts

Meanwhile, several analysts have shared technical insights on Ethereum’s potential price trajectory. Ali notes a head-and-shoulders pattern forming around the $2,900 level. He views any dip toward this zone as a potential buying opportunity—albeit with tight risk controls, placing stop-loss orders between $2,700 and $2,500.

Source: Ali on X

 Another technical expert, Titan of Crypto (@Washigorira), also anticipates a “major move upward this year,” highlighting specific take-profit zones above $3,600 and pointing to 2025 as a pivotal year for Ethereum’s market structure.

Source: Titan of Crypto on X

Pectra Is Coming

Investors are also watching the upcoming Pectra upgrade, slated for March 2025. Though details remain sparse, any significant protocol update tends to drive heightened interest and can contribute to pricing momentum if it addresses scalability or other longstanding technical hurdles. Some traders are further factoring in the possibility of inflows from newly approved ETH exchange-traded funds (ETFs), which could boost liquidity and price stability over the long run.

Despite the short-term dip, Ethereum continues to show resilience, trading near the $3,100–$3,200 range at press time. With network activity at record levels, ongoing whale accumulation, and rising institutional interest, many market participants remain optimistic. While price targets such as $4,000 have met resistance before, renewed buying suggests that Ethereum could be positioning itself for another upward push.

All things considered, Ethereum’s fundamental growth story—evidenced by soaring address counts and strategic investments—remains robust. Whether the market sees immediate upside or further consolidation, most experts agree that Ethereum’s widespread adoption and growing ecosystem will likely shape the trajectory of its price in the months to come.