ethereum price Weak conditions in the broader crypto market continue to increase volatility, with altcoin values falling to the $3,000 range, levels not seen in recent months. Although the price of ETH has fallen sharply, the real economy of the network has shown significant growth, outpacing the market value of ETH.
The ETH market is sluggish, but the real economy is expanding
The growth of Ethereum’s on-chain economy is significantly faster than the native asset price movement. Overall, ethereum network is quietly entering a phase of significant real-world growth, as evidenced by soaring transaction revenue, surging stablecoin payment volumes, and accelerating the decentralized app ecosystem.
This widening of the gap between prices and the real economy is due to share According to Milk Road, a market expert at social media platform X (formerly Twitter). According to market experts, the underlying network’s real economy has grown three times faster than the ETH price.
The data shared by Milk Road is stablecoin supply The data available on the Ethereum blockchain has increased by 65.5 times. Such significant growth means money only moves where the activity is happening, which is the clearest signal of real demand in the broader crypto sector.
Meanwhile, Milk Road emphasized the following: Ethereum‘s fully diluted market capitalization increased 21.6 times over the same period. The disconnect between Ethereum’s core economic activity and market value raises the possibility that investors are underestimating the network’s actual strength, which could lead to a realignment.
What this means is that blockchain’s economic engine has expanded far beyond its valuation in nearly five years. However, experts noted that if prices eventually catch up with activity, as they always do, the gap between a stablecoin’s supply and its fully diluted market capitalization will not remain this large forever.
Fundamentals remain strong despite Ethereum’s weak sentiment
Ethereum continues to show on-chain strength, achieving new milestones amid continued market volatility. Leon Weidman, director of research at the Onchain Foundation, said: disclosed Although prices have fallen, the blockchain-powered dollar economy recently reached an all-time high.
For the first time ever, the total value of all stable coin Over $300 billion was secured on-chain. Meanwhile, ETH Layer 1 has alone amassed more than $170 billion of total supply, reflecting its growing adoption and growing dominance. Overall, sentiment regarding ETH, especially its price movement, may be weak; The basics Maintain robustness.
In another X post, Waidmann said Even though crypto players continue to declare ETH dead, the blockchain continues to move in the opposite direction. Network block space usage has been increasing almost constantly for the past decade.
Block space consumption is currently at a new all-time high in 2025. According to Wideman, this is more than just hype. It is driven by real economic activity anchored in global trusts like Ethereum, as evidenced by its continued growth in fundamentals.
Featured image from Pxfuel, chart from Tradingview.com
