@zhaotianming
Ethereum's 66.55% Q3 2025 rally, closing near $5,000, fueled robust on-chain activity, with average daily active addresses hitting 614,000—up significantly from Q2—and peaking at 725,000 on September 18. This surge signals strong adoption, driven by ETF inflows exceeding $9B.
Early Q4 shows sustained momentum, with addresses averaging 570,000 despite a price pullback to $3,960, though recent dips to 457,000 hint at volatility. ETH dominance climbed to 12.5% in Q3, up 3.8pp QoQ. Historical Q4 gains (avg 24%) and institutional flows could push it to 15%+, enhancing market leadership if rally resumes.