's blockchain landscape has recently seen transaction volumes exceed $229 billion, a surge attributed to $213 billion in mainnet transactions and $16 billion from Layer 2 solutions such as Arbitrum, Optimism, and Base. This heightened economic activity is reflected in increased transaction fees, a result of rising demand and possible network congestion.
The bullish price action of Ethereum further demonstrates sustained buyer interest. The cryptocurrency's performance patterns are above moving averages and have surpassed local resistance levels—a classical signal of an uptrend.
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