Ethereum network expanding its users despite extreme volatility

Despite the sharp drop in Ethereum's price recorded last Friday, its rapid recovery since then suggests sustained demand, not only among traders and investors, but also from new network participants.

According to the latest data, the number of unique stablecoin senders on Ethereum per week has been growing exponentially over the past 12 months. From January 2020 to July 2024, the weekly average of stablecoin senders on Ethereum stood at around 400,000. Since August 2024, this figure has been increasing at an average rate of over 1.7% per week, consistently hitting new all-time highs.

In 2025, Ethereum averaged 720,000 unique senders per week, and over the past two weeks, that number exceeded 1 million. This remarkable growth highlights a surging trend in the use of stablecoins for everyday transactions and as a store of value, especially amid rising volatility in traditional financial markets. The stability offered by fiat-pegged stablecoins is attracting both retail investors and institutional players who seek to minimise the risks associated with crypto assets.

The increase in senders also signals an expansion in the use of DeFi protocols, where stablecoins play a crucial role in lending, borrowing, and trading. The growth of the DeFi sector continues to attract new users into the Ethereum ecosystem, further driving up stablecoin transaction volumes.

Moreover, the sharp rise in unique stablecoin senders is also driven by growing popularity in countries with unstable currencies or strict capital controls, where users are turning to stablecoins as a more reliable alternative.

Trading recommendations

Bitcoin technical outlook

Buyers are currently targeting a return to the $114,200 level, which would open a direct path to $116,300, followed closely by a potential move toward $118,400. The final target in the current bullish scenario would be the local high near $120,400 — a breakout above this level would signal a strong continuation of the bull market.

In case of a decline, buyers are expected to step in around $111,800. A drop below this support could quickly push BTC toward $109,900, with the lowest expected support at $108,600.

Ethereum technical outlook

A firm hold above the $4,082 level opens the door for a move toward $4,225. The final target in this upward trend is the $4,318 zone — a breakout here would indicate strong bullish momentum and growing buyer interest.

Should ETH decline, support is expected at $3,942. A drop below this area could trigger a move toward $3,827, with the final downside target located around $3,717.

What's on the chart

• The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.