The number of Ethereum active unique addresses has decreased by nearly 10% in the last seven days

By Selena On Apr 12, 2022

The number of active unique addresses on the Ethereum blockchain has dropped by 9.84% over the past seven days.

Number of active addresses on Ethereum decreases by nearly 10% in just a week

Notably, this percentage is higher than Binance Smart Chain (BSC), which recorded a loss of 8.27% last week even though it has more active addresses overall.

Number of active addresses on various networks | Source: Nansen

At the time of publication, the number of active crypto wallets on the Ethereum blockchain is 1.65 million. A week ago, about 1.81 million addresses were actively participating in the network, either as senders or receivers in successful transactions.

In this respect, only Fantom, Arbitrum, and Optimism performed worse than Ethereum among the observed L1/L2 networks. Interestingly, Celo and Ronin measured an increase in on-chain activity, up 15.14% and 3.92%, respectively, for the week.

One of the reasons for the decrease in the number of active addresses could be the hesitation caused by the price crash that has affected most of the major digital assets in the past few days.

For Ethereum, this fall is 12.6% on the week and 6.59% over the previous 24 hours, according to data pulled from CoinMarketCap. At press time, the second-largest cryptocurrency by market capitalization is trading at $3,030. For comparison, its price seven days ago was $3,467.

However, despite the currently bearish market, there is no shortage of optimism. Precisely, the co-head of Galaxy Digital Trading has predicted that Ethereum could flip Bitcoin in three years, citing increased institutional demand for it and ETH 2.0 as its driving force.

Meanwhile, the CoinMarketCap crypto community, with 80% historical accuracy, predicts Ethereum to trade as high as $3,769 by the end of April.

Read more: