Ethereum's 2.3M tx, BTC lag: what's needed for altcoin rotation, January 23, 2026

On January 23, 2026, Ethereum's price remained subdued even as active addresses climbed and roughly 2.3 million daily transactions signaled stronger usage. Fees stabilized after a compression phase but sit well below past peaks, while exchange netflows continue to show outflows. ETH/BTC trades under long-term averages, keeping any altcoin rotation contingent on improved relative performance and rising economic throughput.