Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The market sentiment towards Ethereum (ETH) has turned relatively bearish, largely due to the cryptocurrency\u2019s recent price volatility. This negative sentiment is evident in Ethereum\u2019s new active addresses, having crashed by a whopping 43%, underscoring reduced network activity and investor confidence.\u00a0 New Active Addresses On Ethereum Decline Data from The Block is showing notable fluctuations in Ethereum\u2019s network activity, as the number of new active addresses has seen a sharp unexpected decline over the past three months.\u00a0 On June 27, new active addresses on the Ethereum network surged to 138,620 before dropping drastically to around 89,000 in the first few weeks of July. While the volume fluctuated between 80,000 and 95,000 in August, it soon jumped back above 100,000 at the end of the month. Related Reading: Bitcoin Descending Triangle Formation Says A Crash Is Coming, How Low Can It Go? Despite Ethereum experiencing a significant uptick in its price recently, the new active addresses on its network dropped as low as 78,100 on September 24, marking a 23.43% crash. Currently, the number of new active addresses on Ethereum\u2019s network is still below 80,000, reflecting more than a 44% crash from the last three months.\u00a0 Compared to June 9 when the total active addresses on the Ethereum network surged impressively to 702,857, the current number of addresses has declined by 5.69%. Moreover, on September 22, the total active address count fell drastically to 574,073, underscoring an 18.32% decrease from the previous June 9 high.\u00a0 Typically, when a crypto network experiences a drop in its new active address count, it indicates a decrease in user engagement, leading to a decline in the overall network activity and transaction volume. This decrease can be seen in the data provided by IntoTheBlock, which shows that the total volume of large transactions on the Ethereum network rose to 2.91 million on July 5, but declined to 1.79 million on September 29, reflecting a 38.4% drop.\u00a0 Despite the significant drop in new active addresses on Ethereum, market intelligence platform, Santiment has disclosed that the Ethereum network activity is finally picking up. However, this rise in network activity also coincides with a significant increase in gas fee levels.\u00a0 ETH Loses Top Spot In DEX Volume Rankings On September 25, Ethereum lost its position as the top cryptocurrency with the highest 24-hours Decentralized Exchange (DEX) volume. Solana (SOL) had outperformed Ethereum, claiming the top spot with a 39.77% increase in its DEX volume, which climbed to $1.123 billion. Related Reading: Historical Trends Put Bitcoin At $400,000 With Shocking Timeline At the time, Ethereum\u2019s DEX volume was approximately $1.118 billion after recording a modest 8.92% surge. While Solana briefly stole the spotlight, Ethereum swiftly rebounded and has since held on to its leading position.\u00a0 As of writing, the cryptocurrency\u2019s 24-hour DEX volume has surged by 11%, reaching $1.559 billion, according to DeFiLama. In contrast, Solana experienced a much larger increase of 32.94%, however, its volume still sits below Ethereum\u2019s at $1.251 billion.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":645051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,85312,7931,6931,8686,78803],"class_list":["post-645006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-addresses","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n
Ethereum Sees 43% Crash In Active Addresses, What's Going On?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n