Ethereum Network Grows at Near-Record Pace Despite Price Weakness
BeInCrypto
Despite a recent price drop, the Ethereum network is experiencing near-record growth in daily active addresses and new users.Summary
Ethereum (ETH) experienced a 3.5% price decrease due to geopolitical tensions, bringing the price to around $2,047. However, on-chain data reveals strong network fundamentals, with daily active addresses near 788,000 and approximately 255,000 new addresses joining daily. Ethereum's Decentralized Exchange (DEX) market share has increased to 42% in March, while Solana's DEX volumes have declined. Notably, ETH held on centralized exchanges has fallen to roughly 11%, indicating increased holder conviction and accumulation, as analysts observe less sell pressure. Whether this translates to price recovery depends on broader macro conditions, including the US-Israeli war on Iran and its impact on risk assets.
(Source：BeInCrypto)