New research from Xangle suggests on-chain activity may not be the best indicator to assess Ethereum, after the price failed to rally in Q2.
Source: https://cointelegraph.com/news/eth-activity-in-q2-similar-to-that-before-2017-ico-market-boom
ETH Activity in Q2 Similar to That Before 2017 ICO Market Boom
July 27, 2020
CoinTelegraph