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#Ethereum (ETH) Active Addresses Rise: Price Rebound?

Ethereum (ETH) is down 0.75% after a week of range-bound trading. A monthly loss of 6.40% according to CoinMarketCap shows the most famous cryptocurrency doing poorly.

However, famous crypto researcher Ali Martinez has seen a significant Ethereum network development that might bode well for price activity in the coming days.

Ethereum Active Addresses Reach 3-Month High At 617,170
Martinez observed a large increase in Ethereum blockchain active addresses in an X post on June 22. The crypto researcher found 617,170 active Ethereum users on June 21, the biggest number in three months, using Santiment statistics.


The Ethereum community is speculating because a spike in active addresses frequently indicates an increase in network activity, which is essential given Ethereum's poor performance last month.

Higher activity leads to more user transactions, which boosts demand for ETH and boosts its price. Many Ethereum supporters hope this happens when the cryptocurrency breaks out of $3,400–3,600.

ETH To Rebound Bigly

Additionally, crypto researcher Michaël Van De Poppe has boosted Ethereum's market recovery prospects. Van De Poppe said ETH's downturn will reverse if it trades over 0.05 on the ETH/BTC price chart.

In the last week, ETH has dropped 1.56% to $3,504.42. Significantly, the token's daily volume is down 52.93% to $7.50 billion.

ETH may rebound to $4,000 in March if bulls can exert significant pressure and force an upward breakthrough. Ethereum might drop 14% to $3000 if bears maintain market grip.

Note that all projections are speculative and unreliable. Investors should investigate before purchasing anything.

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