Ethereum Soars to $3,000 as Network Activity Surges, Turning ETH Deflationary
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Ether (ETH) price could hit $3,000 as network activity increases, turning ETH deflationary.
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Ethereum's weekly revenue from fees recently rose above $30 million for two weeks, up from $12 million in October.
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ETH bounced 20% amid a bitcoin and altcoin rally, with capital rotating from BTC to altcoins.
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Ethereum network settled $250 billion in transfers last week, the most since March, signaling growing activity.
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Rising on-chain activity indicates improving crypto market fundamentals and strong demand driving the rally.