This negative sentiment is evident in Ethereum’s new active addresses, having crashed by a whopping 43%, underscoring reduced network activity and investor confidence. New Active Addresses On Ethereum Decline Data from The Block is showing notable fluctuations in Ethereum’s network activity, as the number of new active addresses has seen a sharp unexpected decline over the past three months. 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.
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. 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.
Currently, the number of new active addresses on Ethereum’s network is still below 80,000, reflecting more than a 44% crash from the last three months. 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%.
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