ETHFI activity runs at 2.6x its own baseline, but stays below the on-fire threshold

The last hour shows a clear regime shift above ETHFI's typical pace, yet the intensity remains short of extreme heat.

ETHFI's current one-hour activity is running at 2.6x its own baseline, with 22 recent transfers totaling $617.4K in volume. That is a genuine spike versus normal conditions for this asset, but the measured result still lands below the on-fire threshold.

The relationship worth watching is the gap between elevated attention and the persistence required to confirm it: a single hourly window of 2.6x shows unusual engagement, but it does not yet demonstrate sustained pressure.

This may reflect a temporary attention surge rather than a durable regime change. If ETHFI holds above its own baseline through another hourly window, the signal strengthens; if it mean-reverts, the spike was likely noise.