Ethereum’s mainnet has registered a surprising and significant spike in activity, with daily active addresses climbing to levels not seen in years. According to Etherscan data, Ethereum L1 approached 1.3 million active addresses on January 16, briefly surpassing some of its own Layer 2 networks in terms of raw usage. This sudden surge has renewed discussions about whether on-chain demand for the world’s second-largest blockchain is returning. For a brief window, Ethereum L1 looked like the busiest part of the entire ecosystem again—fueling speculation that user behavior may be shifting back toward mainnet. But rising activity does not always translate into rising prices. ETH Price Still Stuck in a Bearish Trend Despite the impressive surge in active addresses, Ethereum’s price remains under pressure. ETH fell around 1% in the past 24 hours, extending a much more significant 11% weekly decline. Source: coinmarketcap ETH’s technical picture continues to weaken: Below 7-day SMA ($3,134) Below 30-day SMA ($3,101) Well below the 200-day SMA ($3,667) Trading below all these key averages reflects a bearish trend across all major timeframes, showing that increased network activity has not yet translated into sustained buying interest. How Outset PR Helps Crypto Companies Navigate Shifting Market Narratives The disconnect between Ethereum’s rising activity and its bearish price underscores a broader reality of the crypto market: data alone does not shape narratives—interpretation does. This is precisely where Outset PR’s methodology becomes valuable. Outset PR , founded by strategist Mike Ermolaev, specializes in connecting market events with meaningful, data-driven storytelling. Rather than relying on generic coverage or broad distribution lists, the agency treats each campaign as a hands-on workshop aligned with real-time market momentum. At the core of this approach is the Outset Data Pulse , a proprietary intelligence system that tracks: On-chain activity Media trendlines Traffic distribution across major crypto publications This allows Outset PR to identify the exact moment when a client’s message will achieve maximum impact—optimizing not only content but also timing. Another pillar of its strategy is the Syndication Map , an internal analytics tool that reveals which publications generate the strongest downstream visibility across top aggregators such as CoinMarketCap and Binance Square. With this insight, Outset PR is able to produce PR campaigns that achieve visibility several times higher than their initial placements. This precision ensures every PR effort is market-fit, cost-efficient, and positioned at the moment audiences are most receptive—an increasingly important edge in a noisy, fast-moving crypto landscape. ETH Outlook: A Positive Fundamental Signal, But Technicals Lag Behind Ethereum’s surging daily active addresses are a strong fundamental signal and suggest renewed life on the L1.However, price remains governed by broader market conditions and continued downward momentum. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
