EL7.AI
CryptoUpdated×29•Originally published 6 May 2026•Updated 8 May 2026•
1 min read

Ethereum On-Chain Activity Hits Record Highs Driven by RWA Growth

Key Facts

1Ethereum recorded a record 72.83 million transactions during the month of April.
2Tokenized real-world asset (RWA) transfers on the network reached $21.61 billion.

Ethereum has reached a new milestone in on-chain activity with transaction volumes peaking at 21.8 million, driven by the expansion of tokenized real-world assets (RWA). While the price recently dipped to $2,280 due to spot ETH ETF outflows, technical indicators suggest a potential reversal through a bullish 'cup and handle' pattern. Recent data from the derivatives market shows a sharp decline in high-leverage long positions, effectively flushing out aggressive trades. This deleveraging event is seen as a healthy correction that reduces the risk of future 'long squeezes' and stabilizes the market structure. Adding to the sentiment, Tom Lee of Fundstrat Global Advisors maintains a long-term target of $12,000. Investors are now focused on whether this cleaner market positioning can support a breakout toward the $3,000 resistance level.