👉👉👉 Ethereum Sees 43% Crash In Active Addresses, What’s Going On?
Bearish Market Sentiment for Ethereum ($ETH )
Recent price volatility has led to a bearish sentiment around Ethereum, highlighted by a significant decline in new active addresses, which dropped by 43%. This reduction indicates decreased network activity and waning investor confidence.
Decline in New Active Addresses
- June 27: New active addresses peaked at 138,620.
- Early July: Plummeted to around 89,000.
- August: Fluctuated between 80,000 and 95,000, briefly surpassing 100,000 by month-end.
- September 24: Dropped to 78,100, representing a 23.43% decline and over 44% decrease from three months prior.
- Total Active Addresses: Decreased from a June peak of 702,857 to 574,073 by September 22, an 18.32% decline.
- Large Transactions: Volume fell from 2.91 million on July 5 to 1.79 million on September 29, a 38.4% drop.
Despite this decline, Santiment notes a slight recovery in Ethereum’s network activity, albeit with rising gas fees.
Loss of DEX Volume Leadership
On September 25, Ethereum lost its top spot in 24-hour DEX volume to Solana, which saw a 39.77% increase, reaching $1.123 billion. Ethereum's volume was around $1.118 billion after an 8.92% increase.
However, Ethereum quickly rebounded, regaining its lead with a 24-hour DEX volume increase of 11% to $1.559 billion. Solana's volume increased by 32.94% but remains at $1.251 billion, trailing Ethereum.
Source - newsbtc.com
