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Ethereum network activity is not being influenced or shaped by the current price action of the altcoin, which has been steadily battling with volatility. Even as the price of ETH has fallen sharply from its new peak, user activity on the leading blockchain network is experiencing robust growth, with more operations being carried out on a daily basis.
In a highly uncertain and volatile cryptocurrency environment, the Ethereum network appears to be thriving, experiencing robust interest and engagement. ETH’s current network strength is evident, particularly in the number of transactions processed on the blockchain each day.
The daily transaction counts on the network have exploded while price action continues to struggle to regain bullish momentum. This mismatch between market performance and fundamentals often indicates underlying strength that may not yet be represented in valuation.
Reports from Everstake, the largest global non-custodial staking infrastructure provider, revealed that the Ethereum network is making history, recording over 3.6 million transactions on April 12, 2026. As of today, this figure marks the strongest daily activity on the network since its existence.
What makes this quite interesting is the fact that ETH’s price is still trading about 55% below its all-time high. The increase in on-chain activity indicates that consumers are still actively participating in the network despite the lack of price change.
EverstaKe added that this trend creates a notable divergence because network activity is at peak levels in the absence of complete price strength. In the past, such gaps have demonstrated a tendency to narrow over time.
Adding to the network growth, the platform highlighted that Ethereum is now one of the strongest foundations it has ever had. Since choosing ETH, there have been record levels of usage, a deeply established ecosystem, and continued progress in scaling and development.
In many ways, this progress highlights a simple dynamic where price typically follows fundamentals, not the other way around. Meanwhile, Everstake stated that the fundamentals are already in place.
As the financial sector grows, the Ethereum network is steadily emerging as the major settlement layer for on-chain finance activity. The stablecoin supply managed on the leading network is rising at a significant rate over the years.
In an X post, Leon Waidmann, a researcher and optimist, shared that stablecoin supply on ETH has reached a new all-time high. Data shows over $180 billion has been added to the network over the past 3 years, representing a 150% increase within the period.
Currently, Ethereum controls about 60% market share in stablecoins. In the next 4 years, an additional $1.7 trillion is set to go on-chain, and ETH could dominate this revenue. Even if Ethereum’s market share eventually drops from 60% to 50%, it still means that by 2030, the ETH network will secure almost $850 billion in new stablecoin supply.
Featured image from Pexels, chart from Tradingview.com
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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Bybit is preparing to gradually scale back services for users based in Japan from 2026, marking a further shift in how global crypto exchanges navigate one of the world’s most tightly regulated digital asset markets.
The move follows months of regulatory pressure and earlier steps taken by the exchange to reduce its footprint in the country.
Bybit said the process will involve rolling account restrictions applied over time, rather than an immediate shutdown, as it aligns with Japan’s regulatory framework.
The development comes even as the exchange expands in other jurisdictions, underlining the uneven global regulatory landscape for crypto platforms.
The phased restrictions will apply to users identified as Japanese residents, with Bybit implementing the measures on a rolling basis.
Users who believe they have been incorrectly classified have been asked to complete additional identity verification checks to resolve their status.
Bybit is not registered with the Financial Services Agency, which requires crypto exchanges serving Japanese residents to obtain local approval before offering services.
Japan’s regulatory regime has long been regarded as one of the strictest globally, shaped by past exchange failures and consumer protection concerns.
This framework has limited the ability of overseas platforms to operate freely in the country without a local licence.
Bybit’s decision to begin a structured withdrawal from 2026 reflects the growing difficulty for unregistered foreign exchanges to maintain access to Japanese users.
The latest announcement builds on earlier actions taken by Bybit to curb its exposure to the Japanese market.
In October, the exchange halted new user registrations in Japan, citing ongoing discussions with regulators.
That decision signalled that continued full operations without registration were becoming increasingly unsustainable.
Regulatory scrutiny intensified in February, when Japan’s Financial Services Agency requested that app stores run by Apple and Google suspend downloads of five unregistered cryptocurrency exchanges.
Alongside Bybit, the list included MEXC Global, LBank Exchange, KuCoin, and Bitget. The move reinforced Japan’s stance that access to local users must be tightly controlled.
Industry figures have warned that this regulatory bottleneck is driving innovation elsewhere.
In July, Maksym Sakharov, co-founder and CEO of WeFi, said Japan’s strict oversight was pushing crypto development out of the country, as companies look for more flexible jurisdictions.
Despite the Japan pullback, Bybit remains one of the most active exchanges globally.
Rather than exiting heavily regulated markets altogether, Bybit has increasingly adopted jurisdiction-specific strategies, limiting certain services while expanding in regions with clearer or more accommodating frameworks.
While scaling down in Japan, Bybit is simultaneously rebuilding its presence in other markets.
The exchange is reentering the UK after a two-year pause, launching a platform that offers spot trading and peer-to-peer services.
The UK return is structured through a promotions arrangement approved by Archax, rather than through direct UK registration.
Bybit has also strengthened its position in the Middle East.
Last month, it secured a Virtual Asset Platform Operator Licence from the United Arab Emirates’ Securities and Commodities Authority, eight months after receiving in-principle approval.
The licence allows the exchange to expand services in a region that has actively positioned itself as a hub for digital asset firms.
Ethereum price started a recovery wave from $3,700. ETH is moving higher but faces a couple of key hurdles near $3,850 and $3,920.
Ethereum price started a minor recovery wave from the $3,700 zone, like Bitcoin. ETH price surpassed the $3,750 and $3,800 levels to enter a short-term positive zone.
The price even cleared the 23.6% Fib retracement level of the downward move from the $4,110 swing high to the $3,708 low. However, the bears remained active near the $3,840 resistance zone and prevented an upside continuation.
Ethereum price is now trading below $3,850 and the 100-hourly Simple Moving Average. On the upside, the price could face resistance near the $3,845 level. Besides, there is a short-term bearish trend line forming with resistance at $3,850 on the hourly chart of ETH/USD.
The next key resistance is near the $3,920 level or the 50% Fib retracement level of the downward move from the $4,110 swing high to the $3,708 low. The first major resistance is near the $3,950 level.
A clear move above the $3,950 resistance might send the price toward the $4,020 resistance. An upside break above the $4,020 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,120 resistance zone or even $4,150 in the near term.
If Ethereum fails to clear the $3,850 resistance, it could start a fresh decline. Initial support on the downside is near the $3,800 level. The first major support sits near the $3,740 zone.
A clear move below the $3,740 support might push the price toward the $3,700 support. Any more losses might send the price toward the $3,650 region in the near term. The next key support sits at $3,620.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $3,740
Major Resistance Level – $3,850
Bitcoin price is consolidating above the $95,000 support zone. BTC is struggling and might slip further unless there is a close above $98,800.
Bitcoin price failed to continue higher above the $100,500 zone. It started another decline below the $98,500 zone. BTC gained bearish momentum for a move below the $98,000 and $96,000 levels.
There was a move below the 50% Fib retracement level of the upward move from the $91,000 swing low to the $102,500 high. The price even spiked below the $95,500 support level and settled below the 100 hourly Simple moving average.
It tested the 61.8% Fib retracement level of the upward move from the $91,000 swing low to the $102,500 high. Bitcoin price is now trading below $98,000 and the 100 hourly Simple moving average.
On the upside, immediate resistance is near the $96,750 level. The first key resistance is near the $98,000 level. There is also a connecting bearish trend line forming with resistance at $98,200 on the hourly chart of the BTC/USD pair.
The next key resistance could be $100,000. A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $101,200 resistance level. Any more gains might send the price toward the $102,500 level.
If Bitcoin fails to rise above the $98,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,000 level. The first major support is near the $95,500 level.
The next support is now near the $93,700 zone. Any more losses might send the price toward the $92,000 support in the near term. The main support sits at $91,000.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $96,200, followed by $95,500.
Major Resistance Levels – $98,000 and $100,000.
]]>Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Although hundreds of billions away, Microsoft’s valuation is gradually closing in on that of Apple, racing to become the world’s largest.
Microsoft Corporation (NASDAQ: MSFT) is making progress with its valuation and seems ready to give Apple Inc (NASDAQ: AAPL) a run for its money. The company’s valuation is now moving closer to Apple’s as it races to overtake the iPhone maker as the world’s largest company by market cap.
According to Marketwatch data as of writing time, Apple shares have climbed 0.42% this month, lower than Microsoft’s 2.05%. In addition, the year-to-date (YTD) performance for Apple and Microsoft are 36.97% and 37.12%, respectively. Although Microsoft’s valuation at $2.44 trillion is still some way from Apple’s $2.78 trillion, the gap seems to be closing. Microsoft is riding on its involvement with artificial intelligence (AI) and cloud computing, two factors attracting an increasing number of investors.
Huntington Private Bank’s Senior Equity Analyst, David Klink, made a case for a rise in Microsoft’s valuation. According to Klink, “Microsoft has more of what the market wants right now, and given where we stand on the pair’s growth prospects, we wouldn’t be surprised to see it overtake Apple.”
Klink also mentioned Microsoft’s AI efforts as involvements that could be bullish for the company over a long time. Comparing that with Apple, Klink said:
“We have more faith in Microsoft’s margins. While the cloud and AI are growth areas that can stand the test of time over a decade. We don’t know if the iPhone can do the same. It’s hard to make a bear case for Apple, given its services business, but the bull case clearly favors Microsoft.”
Preference for Microsoft, especially over Apple, is not new on Wall Street. At the moment, about 90% of Microsoft analysts recommend buying MSFT shares, higher than about 67% for Apple. In addition, Wall Street expects Microsoft to post double-digit increases in net earnings per share and revenue for fiscal 2024 and the three years after. This forecast is largely predicated on cloud- computing and investor appetite for MSFT following the company’s business with OpenAI.
On the other hand, Apple has experienced negative revenue growth for the last three quarters. Analysts already predict that there would be a fourth, which would be the company’s longest in 20 years. While the analysts however expect positive growth in Apple’s fiscal 2024, they do not expect a significant spike.
Microsoft is still on its mission to acquire video game giant Activision Blizzard. After facing a rejection, the company has created a new proposal to address issues raised by the United Kingdom’s Competition and Markets Authority (CMA). Last year, Microsoft tried to acquire Activision Blizzard in a $69 billion deal. However, regulatory authorities in the United States, the UK, and elsewhere in Europe, were concerned about the possible monopoly and consequences for competitors.
Now that there is a new agreement, the CMA is planning an inquiry to scrutinize the deal and take a final decision by October 18. The revised agreement contains limited privileges for Microsoft, including not holding exclusive rights to publish Activision Blizzard games on the Xbox.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.