Ethereum (ETH) has seen an increase in net buying volume on Binance over the past two weeks, but this has yet to lead to a strong uptrend for the leading altcoin, data showed.
The price of Ethereum has risen by 10% since April 5th, with a large portion of these gains coming after a two-week ceasefire was announced between the United States and Iran.
An uptrend in CVD indicates that net buying volume is higher. Aggressive buying tends to push prices higher, but ETH has not maintained an uptrend over the past two weeks.
The price is just above $2.2K at the time of writing, but the CVD rally has not seen a proportionate upward movement in price yet. Analyst Amr Taha concluded that this discrepancy indicates the presence of underlying demand and that buyers are still in control.
Examine Ethereum chain activity and organic demand
The rate of cardiovascular diseases has been trending upward since the last week of February. It saw a decline around mid-March, as fears of inflation, rising oil prices and the potential for escalation in the US-Iran conflict put pressure on traders and investors to take profits.
Fusaka was promoted in December 2025 Ethereum More efficient. This led to lower fees and increased productivity, which naturally led to… More activity Although no new capital enters the system.
Cryptocurrency intelligence platform Alphractal noted that this pattern is one we have seen before. In 2025, the 30-day moving average of active addresses rose while Ethereum traded sideways between $2.7K and $3.3K.
This was followed by a 45% price drop, meaning that increased activity across the chain sometimes precedes price declines. Real demand is not reflected in increased activity, but rather in increased capacity.
Such an event gives context to broader market conditions. Emotions have been frightening, and capital flows into cryptocurrency markets are choppy. The threat of a deeper price decline appears likely, despite signs of demand.
CryptoQuant data showed that ETH exchange reserves are declining, indicating accumulation. The chart above shows that the monthly position of ETH holders is on the rise, which is another sign of demand.
This has combined well with the CVD since February, but this does not mean that a longer-term uptrend reversal is imminent. Traders and investors need to be careful as the market system remains bearish.
Final summary
- The strong buying volume behind Ethereum, combined with increased position holding, has confirmed some demand for ETH.
- This demand, combined with increased on-chain activity, does not necessarily reflect an upward shift in the market system.
