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Ethereum Active Addresses Drop 32% to 327,000 Since August
The Ethereum network is experiencing a decline in active addresses, dropping from 483,000 in August to 327,000, marking the lowest level since May. This reduction of over 32% indicates a decreasing participant activity on the network.
- Ethereum's price has declined from $4,800 to approximately $3,100, correlating with reduced network usage.
- The decrease in active addresses and valuation suggests reduced demand for Ethereum.
- For a bullish market, both price increase and on-chain activity growth are necessary.
- A significant recovery in active addresses could signal a return of on-chain demand, potentially leading to price momentum.
As of now, Ethereum is valued at around $3,106, showing minimal change from the previous day.
