Surging Ethereum transaction fees: Ethereum’s gas fees have soared back to April 2024 levels, driven by increased decentralized finance (DeFi) usage. Weekly fees now total 67 million USD, showcasing a 17.9% jump, highlighting enhanced activity on the blockchain.

Investor confidence amid market volatility: Despite a slight 0.7% rise in ETH’s price to 3,919.47 USD, overall market conditions remain fluctuating. A significant decline of 778 million USD in exchange flows indicates net withdrawals, which may reflect investor confidence in Ethereum’s future prospects.