The Ethereum network has recently seen notable growth in the number of daily active users and transaction volume, but the price of ETH is still falling. Over the past seven days, Ethereum is down more than 10%, underperforming Bitcoin and the S&P 500.

However, the number of daily active Ethereum addresses has been steadily increasing, up more than 46% since January 3. This increase has often been accompanied by price increases, with Ethereum rising from around $2,909 to more than $4,000 in that time.

However, after surpassing $4,000, ETH price has dropped 17% in the past 10 days. Despite the price drop, the network has seen a continued increase in on-chain data, with the number of daily active addresses rising to its highest level since October 2023.

According to data from IntoTheBlock, the average daily volume of ETH has been growing steadily, pushing up the amount of ETH converted. This shows that user interest and usage of the Ethereum network is still growing.

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