Ethereum sees 43% collisions on active addresses. What’s going on?
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sentiment about the market Ethereum (ETH) have turned Relatively weak, mainly due to cryptocurrencies Recent price volatility. These negative sentiments are evident in the new active addresses on Ethereum. The address plunged a whopping 43%, highlighting declining network activity and investor confidence.
New Active Addresses as Ethereum Drops
data From The Block is showing notable volatility. Ethereum’s network activityThis is because the number of new active addresses has dropped unexpectedly and sharply over the past three months.
June 27 New Active address on the Ethereum network It spiked to 138,620 and then fell sharply to around 89,000 in the first few weeks of July. Volumes in August fluctuated between 80,000 and 95,000, but soon jumped back above 100,000 by the end of the month.
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Despite Ethereum experiencing significant difficulties price rise More recently, the number of new active addresses on the network fell to 78,100 on September 24, resulting in a 23.43% crash. The current number of new active addresses is: Ethereum’s network It’s still below 80,000 and reflects a slump of more than 44% over the past three months.
Compared to June 9th, when there was full activity Ethereum network address surge Amazingly, the current address count is 702,857. refuse It increased by 5.69%. Additionally, the total number of active addresses dropped sharply to 574,073 on September 22, down 18.32% from the previous peak on June 9.
Typically, when the number of new active addresses on a cryptocurrency network decreases, this means less user engagement, which in turn reduces overall network activity and transaction volume. This decrease can be seen below: data Here is the total amount offered by IntoTheBlock: large trading volume The number of Ethereum networks increased to 2.91 million on July 5, but decreased to 1.79 million on September 29, a 38.4% decrease.
Despite a significant decline in new active addresses on Ethereum, the market intelligence platform Santiment said: published The news is that Ethereum network activity is finally picking up steam. However, this increase in network activity also coincides with a significant increase in gas price levels.
ETH lost its top spot in DEX trading volume rankings.
September 25, Ethereum lost its location is best cryptocurrency The 24-hour DEX (decentralized exchange) trading volume is the highest. Solana (SUN) DEX trading volume increased 39.77% to $1.123 billion, surpassing Ethereum to take first place.
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At that time, Ethereum’s DEX trading volume was approximately $1.118 billion after recording a slight increase of 8.92%. While Solana was briefly in the spotlight, Ethereum quickly rebounded and maintained its lead.
At the time of writing, the cryptocurrency’s 24-hour DEX volume is to rapidly increase According to DeFiLama, it rose 11% to $1.559 billion. In contrast, Solana experienced a much larger increase of 32.94%, but its trading volume was still lower than Ethereum at $1.251 billion.
Featured image created with Dall.E, chart from Tradingview.com
