The number of active Ethereum addresses drops to the lowest level since January 2021
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Answer The number of active Ethereum addresses drops to the lowest level since January 2021
It seems that the negative numbers and statistics related to the crypto market are still present and intensifying more and more whenever Bitcoin returns to decline below the $20 thousand level.
Just like Bitcoin, Ethereum has experienced a sharp decline in value in the past few months.
The second most valuable cryptocurrency in the world touched its lowest level of $850 during the recent heavy selling.
As a result of the crypto winter, the total number of active Ethereum addresses is now at 28,149, the lowest level since January 2021.
Reversely, the total number of idle Ethereum addresses increased over the same period.Read:Goldman Sachs plans to reopen bitcoin futures trading after three-year hiatus
The supply of Ethereum spent more than 5 years ago reached an all-time high of 10.12 million.
Data from Glassnode shows that the Ethereum network has also seen a sharp drop in the number of transactions.
The number of weekly Ethereum transactions reached a 20-month low of 40,691,060.
After a massive correction during the first three weeks of June, the price of Ethereum has settled above the $1,000 price level in the past few days.
In the past six days, the price of Ethereum has increased by more than 20%.
Currently, Ethereum is now trading near $1,200.
Investors and Ethereum:
In a recent crypto market report, Glassnode highlighted a sharp decline in Ethereum’s market dominance.
Like Bitcoin, all investors who bought Ethereum in 2021-2022 now all have an unrealized loss.Read:Seven Reasons Putting Ethereum on the Way to Hacking $10,000!
Institutional outflows from Ethereum investment products reached record levels during the first five months of 2022.
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