Most are watching price... but the signal isn't in price

Ethereum’s price has hovered near the $2,400 level in recent days, offering little to excite traders focused purely on volatility or breakout patterns. But the underlying network activity has shifted quietly — and in my view, significantly.

While the majority continue to anchor their attention to spot movement and ETF narratives, address-level activity tells a different story. One that, historically, has preceded significant directional pivots.