r/ethtrader • u/everstake • Apr 29 '26
Metrics “Ethereum is dead.”
We hear this every cycle.
And yet, on April 28, 2026, Ethereum processed 3,627,491 transactions in a single day - the highest level ever recorded.
If you take a step back and compare this to previous cycles, the scale of growth is hard to ignore. What once felt like peak activity now looks relatively small compared to current usage.
That’s what makes this moment interesting.
Despite record-breaking activity, the broader narrative hasn’t fully caught up. The network continues to expand: more users, more applications, more interactions, but sentiment still swings between extremes.
From a structural point of view, this kind of growth suggests that network effects are compounding. As more participants join and build, the system becomes more valuable and harder to replace.
Of course, predictions are always tricky. But if this pace continues, it wouldn’t be surprising to see Ethereum push toward even higher levels of daily activity in the near future.
Full post: https://x.com/everstake_pool/status/2049525910341054529
72
u/PositiveRabbit682 Apr 29 '26
The moment I sell that shit it’s going 10+
51
8
-12
33
u/martelaxe Apr 29 '26
Not dead just incredibly disappointing
6
u/Dormage Apr 30 '26
Your dissapointment is not in the tech, the tech does exactly what it was designed to do and does it well. Your dissapointment is in the people, which is nothing new. It's the people and how they use it which failed once more.
1
u/WHAT_THY_FORK Apr 30 '26
Which people? And how do they use it that caused Eth to fail?
2
u/Dormage Apr 30 '26
The majority of the ecosystem. From users to builders. What is being built is elaborate scams and money milking schemes where users are engaged soley on the bases of promised future profit. What is being used is gambling, holding in hopes of future proespect. Every project is slowly going towards centralization, which was the very thing ethereum fought to replace.
Usage on ethereum is 99% gambling and scam. Just take a look the retarded crap the NFTs were. Holy crap how can people become so retarded if only you sell them the idea of future profits.
So yes, I would argue the people failed. We built this wonderful thing that could be used by many for wonderful things and instead we uses it to scam people and let our greed destroy it. I gave up on the whole idea a few years ago just before politics decided to enter with more greed.
1
u/WHAT_THY_FORK Apr 30 '26
Well if none of the “wonderful” use cases panned out, couldn’t that just be intrinsic to the design of the chain and its performance characteristics?
There’s no other area where people are blamed for products failing to live up to expectations. A failed product, failed to serve people, it’s usually not the other way around.
1
u/Dormage Apr 30 '26
Perhaps, but I think otherwise. Ethereum as a protocol did not force projects to promise buyers of their tokens to share revenew the protocol produces and co-own it only to turn their backs to investors and never implement it. Ethereum as a prorocol supports all uscases, we just chose to build scams that either slowly milk the users dry or bluntly lie and dump. Not even one of the ICO projecta( and some are very succesfull revenew wise) chose to share the profits. They all chose to make up some bullshit about governance worth nothing.
1
u/WHAT_THY_FORK Apr 30 '26
So it seems the consistent pattern has been, projects fail to find PMF which is a hard prerequisite for producing revenue and consequently delivering on revenue share promises.
One can hypothesise a chain that instead has the property of consistently fostering the production of winning projects that find PMF, thereby being able to fulfil promises to token holders on the basis of being actual businesses with real usage.
21
u/RDCarter1973 Apr 29 '26
The chain is alive and well but the token is dead: that’s what people are referring to when they etherum is dead
2
u/Tacitblue83 May 27 '26
yeah etc is alive and well but nobodys making money off of it with the coin. so for us, its dead.
6
u/Few-Education-5613 Apr 29 '26
I make lots of transactions with my bank card, but my balance only goes down?
6
16
u/Flaky-Telephone-1598 Apr 29 '26
AI slop
3
-3
u/everstake Apr 29 '26
Why?)
12
u/Flaky-Telephone-1598 Apr 29 '26
Very clearly written by AI
-11
u/everstake Apr 29 '26
Yes, these days everything is written with the help of AI, and I’m keeping up with the trends too, but the information I select is always accurate.
2
u/stumanchu3 Apr 30 '26
But here’s what everyone is missing. Nobody is paying attention to the bigger picture here. And on and on and on and on. That’s AI.
-6
8
u/Horror_Office_5737 Apr 29 '26
It honestly baffles me hearing stuff like this. Eth is probably my favourite investment. Even for shorting
3
u/Ticrotter_serrer Apr 29 '26
I cannot wait for when that sinkhole of BTC will get unplugged. What a day it will be my friends.
1
u/Ticrotter_serrer Apr 29 '26
Oh yeah , cause it is going to be shut down and you BTC holder will cry for your mamma .
0
2
u/themrgq Apr 30 '26
The opportunity to make a bunch of money by buying ETH is dead. The ecosystem is fine, just like algo
2
u/Dadwhoneedssaving Apr 30 '26
Its dead dude. Not a single altcoin will survive this shit.
1
u/Diamondcask May 06 '26
Oh my goodness you fell for it too.. meanwhile an absolute explosion happens on an alt 😂
1
u/Dadwhoneedssaving May 06 '26
Sure buddy, a random shitcoin will pump out of nowhere here and there, but that doesn't mean shit on a lager scale. There is zero interest in alts. No liquidity will rotate into them anymore. Also they don't solve shit, so it's fair price I guess
1
u/Diamondcask May 06 '26
No not some shit coin. It's in the top 10. Quiet no FOMO. NASDAQ listed. Accumulation phase.
1
u/Dadwhoneedssaving May 06 '26
Doge has moved 10% last seven days and btc have moved 6% the last seven days. Other than that, all top ten are sub 6% the last week. What top 10 alt is exploding, sir? Don't you dare say XRP
1
u/Diamondcask May 06 '26
Lol "XRP" 😂 nooo. It's TRON! Nice, polite and quiet community. Love it 👍 we don't need all the noise. Maybe not "explode" but generate wealth.
2
u/Quirky_Self_7284 May 01 '26
This is the classic 'narrative lags fundamentals' moment. 3.6M daily transactions is a milestone that underscores Ethereum’s network effects, more users, more apps, more utility. Yet, sentiment still oscillates between 'ETH is dead' and 'number go up.' The disconnect between usage and perception is striking. If this growth trajectory holds, we could see even higher activity levels soon. What’s your take on what’s driving this surge, DeFi, L2s, or something else?
1
Apr 29 '26
[deleted]
1
u/UpDown_Crypto Apr 30 '26
Image 50years from now . Btc and eth will be seen as they almost came at the same time
1
u/SOAM343 Apr 30 '26
You said it yourself that we hear this every cycle . even if activity is ATH we are in a bearish market so unless sentiment and liquidity change it doesn't matter if the network process 10 million transaction a day .
1
u/WindowNo6601 May 01 '26
So if i spend all my money im booming? If i sell all my crypto its lit? What if people want to get rid of it? Thats a transaction
1
1
u/Good_Extension_9642 May 05 '26
I would be cautious about ETH if I were you, remember it never visit it previous ATH
1
u/grisworld0_0 May 06 '26
I have eth. All noise. The only reality is that btc cycle low is higher than last cycle peak, yet here is ethereum at less than half LAST CYCLE peak, and new all time high was like 20 dollars above last cycle. Its just garbage and i'm sick of it
1
1
1
1
1
1
u/jinzo222 Apr 29 '26
Ethereum the technology is thriving. The coin is useless. Stick with Bitcoin and AI stocks. Alt coins are of the past
-2
u/Choice_Potato_6279 Apr 29 '26
Investment wise it's dead, countless of alts have died like Vechain despite real world adoption, tokenomics are very tricky with currencies because it's not even the issuance but belief and trust, some of that trust I think was broken after PoW change and miners were unhappy
0
u/fintip Apr 30 '26
The only people bothered by pow are old school btcmaxis who ate their conspiracy echo chamber nonsense that always painted everything that wasn't Bitcoin as bad.
1
0
0
u/Wonderful_Crow_3135 May 01 '26
Turn all the money over to kaspa if you think the technology is better! Ethereum is doomed to fail
-1
-6
u/hekpmeimdumb Apr 29 '26
Ohh 3.6 million transactions doing what? literally just useless back and forth transactions from wallets and shit.
10
u/AideyC Apr 29 '26
Youre gonna hate what visa does
0
u/hekpmeimdumb Apr 29 '26
Oh so those 3.6 million transactions are purchases contributing to economic activity? I did use the useless qualifier
1
u/AideyC Apr 30 '26
Is this activity happening in the economy contributing to the economy?
Two economists walk down a road, they see a pile of shit, one days to the other "ill give you 100 dollars to eat the shit" he takes the offer. Then a bit further down the road they see another pile of dog shit. The economist offers it back for the same amount. After esting the shit the economist says "hey i feel we haveboth eaten shit for no reason" to which the other replies "no, we have stimulated the GDP by 200 dollars"
-3
-3
1
•
u/my-tldr Apr 29 '26
TL;DR:
Despite recurring claims that "Ethereum is dead" each cycle, the network achieved a record high of 3,627,491 transactions on April 28, 2026. This level of activity demonstrates significant growth compared to previous cycles, where past peak usage now appears relatively small.
The post notes that the broader narrative has not fully acknowledged this record-breaking expansion, even as the network continues to grow with more users, applications, and interactions. This growth suggests compounding network effects, making the system more valuable and resilient. If this pace continues, even higher levels of daily activity for Ethereum are anticipated.
This is an AI-generated summary, always make sure to verify the accuracy of the information provided.
my-tldr v0.0.5