- Ethereum’s monthly volume surged past 16.5M in May 2025, with high-impact sectors driving most of the recent network activity.
- Consolidation near $2,947 shows ETH building strength as key support holds and trading volumes confirm strong market interest.
- Network engagement climbed steadily from 2023 to 2025, marking Ethereum’s highest user and volume growth since its launch.
Ethereum is showing renewed strength as both price action and on-chain activity point toward sustained momentum in 2025. The asset is currently consolidating just under a key resistance level while user volume data reveals historic levels of network engagement.
Activity Breakout Signals Strong Network Engagement
Ethereum’s recent surge aligns with a notable rise in network engagement, led by climbing transaction volume and user activity. The volume has grown steadily since early 2023, with sharp increases visible through the start of 2025. Analysts attribute this uptrend to stronger retail and institutional participation across Ethereum’s core use cases.
Stacked volume data from early 2022 to May 2025 shows a steady base through mid-2023. During this period, monthly activity remained between 1.5M and 3.0M units. Volume then began rising consistently after mid-2023, signaling revived interest across sectors.
Source: X
By early 2024, monthly volume crossed 5.0M, with the yellow segment contributing most to the gains. Activity maintained an upward slope throughout 2024, with consistent totals between 6.5M and 10.0 M. In 2025, monthly volume surged above 11.0M, reaching nearly 17.0M by May.
The yellow volume segment dominated recent months, suggesting growing strength in high-impact sectors. Blue and red segments remained stable, forming a reliable foundation below the rising yellow bars. The highest spikes occurred in early and late 2025, with the latest bar exceeding 16.5M units.
Price Builds Momentum Amid Technical Breakout Hopes
The analyst Michaël van de Poppe has provided additional insights by analyzing Ethereum’s 2025 chart against Tether. The analysis focuses on consolidation below a major resistance and signs of a potential breakout. The observations point to technical strength and sustained bullish structure.
Source: Michael van de Poppe
Michael identified a bottom near $2,000 in April, followed by a rally toward $2,947. Current consolidation remains between $2,231 and $2,449, with that zone acting as support during recent pullbacks. A spike in volume during the May breakout confirmed high interest near $2,449.
The analyst marked resistance from $2,800 to $2,947, aligned with February’s highs. RSI near 70 shows strong momentum without breaching overbought levels. The structure stays bullish above $2,449, with $2,111 marked as long-term support.
