Nov 5, 2025

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Ethereum, Solana See Decline in On-Chain Activity

Recent data indicates a possible emergence of an altcoin winter, as on-chain activity for cryptocurrencies like Ethereum and Solana has decreased.

Decline in Altcoin Activity

The "Active Addresses" metric, which measures daily transaction activity, is declining for major altcoins.
Ethereum: Active addresses fell from 589,000 in July to 488,000, a 17% drop, indicating reduced on-chain demand.
Solana: Experienced a 30% decline in active addresses in Q3 2025.
Memecoins: Dogecoin saw a slight decrease in activity, while Pepe experienced an 85% decline.

DeFi trading volume also shows a downward trend, suggesting waning interest across crypto sectors.

Market Implications

Price crash and reduced on-chain activity might signal an altcoin winter.
The sector has been in a slowdown for over six months.

Ethereum Price Update

Ethereum price declined to $3,300 amidst a broader market downturn.