Ethereum network activity hits a record high, but prices have not kept pace, with daily active addresses approaching 2 million. Capital flow has become the main driving force, with inflows to trading platforms surpassing Bitcoin. Although ETH accounts for 52% of stablecoin supply, the market remains focused on capital movement. It is expected that by 2026, ETH prices could rebound to $3,000.

Ethereum network activity reaches a new all-time high, with multiple indicators showing a significant increase in daily active addresses and smart contract calls. However, ETH price has fallen about 30% over the past six months, indicating a net capital outflow. Analysis suggests that capital flows have a greater impact on price. Despite Ethereum hosting a large amount of stablecoins, its value capture has not kept pace with the growth in network usage.

Etherealize CEO Vivek Raman, an Ethereum ecosystem analysis company, testified before Congress, pointing out that the current financial system is inefficient and advocating for public blockchains to enable real-time settlement and global regulation. He believes that by clarifying digital asset legislation, the pace of innovation can be increased by 100 times, emphasizing the security and resilience of decentralization.

Gate News Report, March 8: KalshiData posted on the X platform that as of March 5, Kalshi's monthly nominal trading volume was approximately $1.9 billion, averaging about $380 million per day. If this pace continues, Kalshi's nominal trading volume for March will reach approximately $11.8 billion. Previously, it was reported that both Kalshi and Polymarket are seeking funding at a valuation of around $20 billion.

On March 5, 2026, from 16:00 to 16:15 (UTC), the price of Ethereum (ETH) recorded a -1.12% return within 15 minutes, with a price range of 2056.69 to 2087.34 USDT, and an amplitude of 1.47%. Market attention during this period significantly increased, volatility intensified, mainstream coins experienced a synchronized pullback, and short-term traders engaged in frequent speculative battles. The main driver of this fluctuation is macro-level liquidity disturbances. As the Federal Reserve's interest rate decision approaches and the U.S. non-farm payroll data is set to be released on March 6, the market shows divergence in the pace of rate cuts, prompting some short-term funds to choose

The Bank of Japan is exploring the integration of blockchain into its settlement system and has launched experimental projects to test the operation of central bank reserves on the blockchain. This move aims to improve the efficiency of interbank clearing and securities settlement while keeping pace with global financial technology innovations. The bank is also advancing pilot programs for central bank digital currencies and refining digital asset policies to promote the integration of blockchain with traditional finance.

From 16:30 to 16:45 (UTC) on February 26, 2026, the BTC spot market recorded a -0.61% return, with prices fluctuating between 66,912.7 and 67,455.0 USDT, with an amplitude of 0.80%. During this window, market attention increased, and high-frequency anomalies triggered short-term cautiousness among investors. Liquidity was ample, but volatility intensified. The main driver of this anomaly was large on-chain fund transfers to exchanges, raising concerns about selling pressure. At the same time, the pace of ETF capital inflows slowed, and the ability of spot buying to absorb selling pressure decreased, further exacerbating price fluctuations in a short period.