Ethereum posts record daily transactions, MACD crossover

Ethereum gained more than 12% over the past month. The network processed 3.62 million transactions on April 12, a single-day record. A confirmed weekly MACD bullish crossover appeared in mid-April, and the token trades over 50% below its all-time high.

Leon Waidmann, head of research at Lisk, reported the April 12 total as the first daily count above 3 million. Waidmann documented a rising trend in daily transactions since November 2025, with a baseline shifting from about 1.5 million to roughly 2.5 million over the past six months. He also recorded 284,000 new users in the first quarter and a record stablecoin supply on the Ethereum mainnet.

Staking infrastructure provider Everstake pointed to a divergence between high network activity and a market price that remains well below the prior peak. Everstake noted the gap between peak usage and valuation and described the current combination of record activity, a large ecosystem and ongoing scaling work.

On technical measures, analyst Crypto Patel used the Ethereum Rainbow Chart, a long-term logarithmic regression tool, to place ETH in a lower valuation band that, by the chart’s history, has occurred twice before. Both prior instances moved into higher valuation bands within about 18 months. Analyst Ash Crypto highlighted a confirmed weekly MACD bullish crossover and noted that the two earlier weekly MACD crossovers preceded rallies of roughly 183% and 75%.

Market prices around April 14 put ETH near $2,346. A 183% increase from that level would imply about $6,639; a 75% increase would imply about $4,105. Analysts say whether those historical precedents repeat will depend on macro conditions through the second quarter, including recent war-driven volatility that has affected capital flows.

Industry participants also pointed to growing stablecoin supply on Ethereum, increased layer-2 adoption, client software updates, and expanding staking infrastructure as contributors to higher on-chain throughput. Ethereum remains the largest smart-contract platform by activity, hosting decentralized finance, stablecoins and nonfungible token ecosystems. Investors and traders continue to watch on-chain metrics, long-term regression tools and momentum indicators for signals about future price action.