Ethereum has achieved a record 3.62 million single-day transactions on its mainnet, signaling robust growth despite being 55% below its all-time high. Analysts point to this heightened activity, favorable technical patterns, and a major long-term price prediction from FundStrat‘s Tom Lee as key factors driving current optimism toward the asset.
Despite significant market uncertainty, Ethereum is demonstrating notable network strength. The mainnet processed a record 3.62 million transactions in a single day on April 12, 2026, according to Leon Waidmann of Lisk. Waidmann stated that daily transactions have been trending upward since November 2025, with the baseline shifting from approximately 1.5 million to 2.5 million.
“Combine the above data with the 284k new users in Q1 and the record stablecoin supply, and the picture is clear,” Waidmann noted. This data suggests Ethereum’s layer-1 activity is growing steadily rather than slowing down. Analyst Crypto Patel also highlighted a bullish technical setup, suggesting the asset appears cheap on a historical rainbow chart pattern.
The weekly MACD indicator has shown a bullish cross, as noted by analyst Ash Crypto. This technical signal often precedes potential price momentum. Meanwhile, Tom Lee of FundStrat has reiterated a long-term price target of $60,000 for Ethereum.
Lee called Ethereum the backbone of real-world asset tokenization and agentic AI infrastructure. He maintains a short-term target between $7,000 and $9,000 for the cryptocurrency.
