The Number of Active Ethereum Addresses has Dropped by Approximately 10% In Just One Week

The Number of Active Ethereum Addresses has Dropped by Approximately 10%

While the global cryptocurrency market has had a hard few days, with the market capitalization dipping below the $2 trillion mark it recaptured in late March, the on-chain activity of Ethereum (ETH), the second-largest crypto by value, has also dropped.

In fact, in the previous seven days, the number of active unique addresses on the Ethereum blockchain has declined by 9.84%.

According to statistics provided by the crypto analytics platform Nansen on April 11, this percentage is larger than that of Binance Smart Chain (BSC), which lost 8.27% in the previous week despite having more active addresses overall.

The number of active crypto wallets on the Ethereum blockchain was 1.65 million at the time of writing. This indicates that almost 1.81 million addresses were active on the network a week ago, either as senders or receivers in successful transactions.

Only Fantom, Arbitrum, and Optimism performed worse than Ethereum among the studied L1/L2 networks in this regard. Celo and Ronin, for example, both saw a rise in on-chain activity this week, up 15.14% and 3.92%, respectively.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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