{"id":571341,"date":"2022-05-18T18:02:40","date_gmt":"2022-05-18T17:02:40","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=571341"},"modified":"2022-05-18T18:02:40","modified_gmt":"2022-05-18T17:02:40","slug":"ethereums-active-addresses-decrease-by-7-despite-eths-56-drop-from-ath","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereums-active-addresses-decrease-by-7-despite-eths-56-drop-from-ath\/","title":{"rendered":"Ethereum&#8217;s Active Addresses Have Decreased By Only 7% Despite ETH&#8217;s 56% Drop From its ATH"},"content":{"rendered":"<p>Summary:<\/p>\n<ul>\n<li>The number of active Ethereum addresses has remained stable relative to the ongoing crypto-market pullback.<\/li>\n<li>Active addresses on Ethereum have only dropped by 7% despite the value of ETH plummeting by 56% since its most recent all-time high of $4,868.<\/li>\n<li>Ethereum daily users are estimated to be at 551k and are constantly involved in DeFi, NFTs, DAO, and GameFi projects.<\/li>\n<li>According to a recent report by A16z, there are somewhat between 7 to 50 million active users on Ethereum, a number similar to internet users in 1995.<\/li>\n<\/ul>\n<p>The number of active addresses on the Ethereum network has more or less remained stable despite the ongoing crypto market correction that has been accelerated by the <a href=\"https:\/\/en.ethereumworldnews.com\/usts-depeg-crypto-meltdown-signals-institutions-to-pour-in-274m-into-digital-assets-in-one-week\/\" target=\"_blank\" rel=\"noopener\">depegging of UST<\/a> and the LUNA meltdown that soon followed.<\/p>\n<p>According to the CEO of CryptoQuant, Ki Young Ju, active addresses on Ethereum have dropped by only 7% despite ETH&#8217;s 56% decline from its recent all-time high of $4,868. Mr. Ki Young Ju explained that Ethereum has an estimated half a million daily active users constantly involved in <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/defi\/\" target=\"_blank\" rel=\"noopener\">DeFi<\/a>, NFTs, DAO, and GameFi.<\/p>\n<p>The CEO of CryptoQuant shared his analysis on the state of Ethereum activity through <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1526800234109616129\" target=\"_blank\" rel=\"nofollow noopener\">the following statement<\/a> and accompanying chart.<\/p>\n<blockquote><p><span class=\"r-18u37iz\">ETH<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> price dropped -56% from the top, but the number of active addresses just decreased -by 7%. <\/span><\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">If we consider each address as a user, <\/span><span class=\"r-18u37iz\">Ethereum<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> has 551,705 DAU(Daily Active Users) today. <\/span><\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">These degens don&#8217;t care about ETH price but ape into Defi, NFT, DAO, and GameFi projects.<\/span><\/p><\/blockquote>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-scaled.jpg\"><img class=\"aligncenter size-large wp-image-571342\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-1024x645.jpg\" alt=\"\" width=\"1024\" height=\"645\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-1024x645.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-300x189.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-770x485.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-1536x968.jpg 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-2048x1290.jpg 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-500x315.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-269x169.jpg 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-746x470.jpg 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Ethereum-Active-Addresses-May-18th-1376x867.jpg 1376w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<h2>Ethereum Has Between 7 &#8211; 50 Million Active Users<\/h2>\n<p>Similarly, the team at A16z had concluded in <a href=\"https:\/\/a16zcrypto.com\/state-of-crypto-report-a16z-2022\/\" target=\"_blank\" rel=\"nofollow noopener\">a recent report<\/a>\u00a0that the number of active users on Ethereum is between seven to fifty million. Furthermore, this amount of active users was similar to &#8216;the early commercial internet, that puts us somewhere circa 1995 in terms of development.&#8217;<\/p>\n<p>Additionally, using an estimated adoption rate similar to the internet in 1995, the team at A16z projected that Web3 could reach 1 billion users by 2031. As a result, the Web3 ecosystem is still in its early stages of development.<\/p>\n<p>The report, titled &#8216;Introducing the 2022 State of Crypto Report&#8217;, also pointed out that <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-ethereum-eth-news\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a> is a clear leader in the Web3 arena and developer activity by having nearly 4,000 monthly active developers.<\/p>\n<h2>Ethereum Is Still In Bear Territory<\/h2>\n<p>Concerning price action, Ethereum is trading in bear territory below the 50-day (white), 100-day (yellow), and 200-day (green) moving averages.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/ETHUSDT_2022-05-18_19-51-37.png\"><img class=\"aligncenter size-full wp-image-571343\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/ETHUSDT_2022-05-18_19-51-37.png\" alt=\"\" width=\"1013\" height=\"563\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/ETHUSDT_2022-05-18_19-51-37.png 1013w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/ETHUSDT_2022-05-18_19-51-37-300x167.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/ETHUSDT_2022-05-18_19-51-37-770x428.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/ETHUSDT_2022-05-18_19-51-37-500x278.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/ETHUSDT_2022-05-18_19-51-37-269x150.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/ETHUSDT_2022-05-18_19-51-37-746x415.png 746w\" sizes=\"(max-width: 1013px) 100vw, 1013px\" title=\"\"><\/a><\/p>\n<p>However, the daily MFI, MACD, and RSI point towards an oversold scenario that could result in a bounce back above $2k and consolidation to confirm the latter support level.<\/p>\n<p>But caution is advised going long on Ethereum given that Bitcoin is currently struggling to maintain its price above the crucial $28k support level. A loss of <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-under-28k-1-billion-liquidations\/\" target=\"_blank\" rel=\"noopener\">$28k<\/a> by Bitcoin will most likely translate to more losses for Ethereum and a possible retest of the local low of $1,800 set last week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: The number of active Ethereum addresses has remained stable relative to the ongoing crypto-market pullback. Active addresses on Ethereum have only dropped by 7% despite the value of ETH plummeting by 56% since its most recent all-time high of $4,868. Ethereum daily users are estimated to be at 551k and are constantly involved in DeFi, NFTs, DAO, and GameFi projects. According to a recent report by A16z, there are somewhat between 7 to 50 million active users on Ethereum, [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":571344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[823],"tags":[1322,108122,213],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/571341"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=571341"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/571341\/revisions"}],"predecessor-version":[{"id":571346,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/571341\/revisions\/571346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/571344"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=571341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=571341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=571341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}