Ethereum’s Identity Crisis: Record Highs or McGlone’s Gloom?

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Ethereum is basically that friend who says they’re “fine” while actively sobbing into their avocado toast. Bullish network stats? Check. Bearish macro warnings? Also check. It’s like watching a rom-com where the leads can’t decide if they should kiss or file a restraining order.

TL;DR for People Who Can’t Handle More Than Bullet Points

  • Ethereum’s active addresses hit 718,000-because apparently, we all love paying gas fees for fun.
  • ETH’s price is stuck in a range tighter than my jeans after Thanksgiving.
  • Mike McGlone says ETH might drop below $2K faster than my motivation on a Monday.

Bloomberg’s Mike McGlone, who probably wears a suit even to bed, dropped this gem:

Ether appears to be heading toward the lower end of its $2,000-$4,000 range since 2023. I see greater risks of it staying below $2,000 than above $4,000, especially when stock market volatility rebounds.

– Mike McGlone (@mikemcglone11) January 25, 2026

Translation: ETH might go down before it goes up, which is basically the plot of every crypto Twitter thread ever.

Meanwhile, Ethereum’s on-chain activity is thriving like a middle-aged dad at a barbecue. Record-high active addresses! Surging transactions! And yet, ETH’s price is as unmoved as a cat ignoring your existence. Classic.

Analysts are scratching their heads harder than a dog with fleas. Is this surge due to Layer-2 adoption? DeFi’s comeback tour? Or just retail investors forgetting they swore off crypto after the last crash? Who knows! But historically, when usage goes up and price doesn’t, ETH eventually moonwalks higher-just like how my diet starts “tomorrow.”

So, will Ethereum defy McGlone’s doom-and-gloom and rally? Or will macro risks turn ETH into digital confetti? Place your bets, folks. Just don’t blame me if you end up eating ramen for a month.

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2026-01-27 03:14