Ethereum on-chain activity set a new all-time high in April with 72.83 million confirmed transactions, pushing the price of Ether toward $2,408 as demand from real-world asset (RWA) tokenization and institutional players builds.
"The total ETH held by these long-term holders reached a record 25 million ETH, marking a 20.36% jump so far in 2026," data from CryptoQuant showed, as accumulation addresses absorbed 246,620 ETH worth approximately $592 million in a single day this week.
The record monthly activity was supported by a weekly transaction all-time high of nearly 22 million. The growth coincides with a 9.78% surge in RWA transfer volume on Ethereum to $21.61 billion over the past 30 days, according to metrics from RWA.xyz. During the same period, whale wallets holding between 10,000 and 100,000 ETH increased their balances to a record 19.5 million ETH.
This surge in fundamental on-chain use points to growing confidence in Ethereum's role as a foundational layer for tokenized assets, a narrative strengthened by Wall Street clearinghouse DTCC's plans to bring corporate actions onchain. If the demand translates to price momentum, technical analysts note a key resistance level at $2,700, which could unlock a move toward $3,315.
The record-breaking network usage signals renewed organic demand for the leading smart contract blockchain. Beyond the monthly and weekly transaction records, the number of stablecoin holders on the network also grew by nearly 2% to over 22.5 million, indicating a broader and more active user base. This uptick in activity directly impacts the demand for ETH, which is required to pay for transaction fees, known as gas.
While past rallies have been driven by retail speculation, the current activity is underpinned by tangible use cases with institutional backing. The Depository Trust and Clearing Corporation (DTCC), which processes trillions in U.S. securities trades daily, is actively working with layer-1 blockchains like Ethereum to tokenize complex post-trade events such as dividend payments. DTCC CEO Frank La Salla recently highlighted the potential for tokenized collateral to provide real-time liquidity, calling the development "incredibly powerful." This move by a core pillar of Wall Street infrastructure validates the thesis that real-world financial assets are increasingly moving onto blockchains like Ethereum.
The increased on-chain activity has supported a 10% rise in ETH's price over the past 30 days. The aggressive buying is not limited to long-term holders. Data shows that whale wallets with balances between 10,000 and 100,000 ETH have seen their holdings rise to an all-time high of over 19.5 million ETH after rapid accumulation. From a technical perspective, ETH is testing resistance from an ascending triangle pattern around $2,400. According to analysts, a sustained break above the $2,600-$2,700 region would confirm a trend change, paving the way for a potential rally toward the measured target of $3,315.
This article is for informational purposes only and does not constitute investment advice.
