Ethereum active addresses hit record as price remains 50% below 2025 peak
Ethereum's active addresses have hit a record high of around 587,000 on a 100-day moving average, signaling increased on-chain activity despite the price remaining 50-60% below its 2025 peak. Market sentiment remains cautious, with only a 4% probability priced in for Ethereum reaching $10,000 by December 31, 2026. Thin trading volumes and low liquidity suggest limited market conviction, even as network fundamentals strengthen. The disconnect between usage growth and price performance raises questions about when or if activity will translate into valuation gains.
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Ethereum’s active addresses have reached a record of roughly 587,000 on a 100-day SMA, yet the price sits over 50-60% below its 2025 peak. The market for Ethereum to reach $10,000 by December 31, 2026, is at 4% YES. ## Market reaction The rise in active addresses points to growing on-chain usage even as price lags, a gap some interpret as Ethereum being undervalued. The market for Ethereum to reach $4,000 in April 2026 reflects this, showing an increased likelihood of hitting that target. The odds of Ethereum reaching $10,000 by the end of 2026 remain at 4%, unchanged from last week. ## Why it matters Ethereum’s long-term price predictions show minimal movement. The December 31 markets are static, each priced at 4% YES, with 246 days left until resolution.
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