Data Suggests Good Network Adoption But Weak Fundamentals For ETH
Ethereum Data Suggests Good Network Adoption But Weak Fundamentals For ETH On-chain data shows there has been an increase in ETHs active users, transaction volume, and blockspace demand. Data also indicates that the monthly average of active ETH addresses has been rejected by the yearly average. Currently, ETH is trading hands at $1,847.78 after a price decrease of 3.17% over the last 24 hours. A well-known crypto analyst on Twitter who goes by the name Ali took to the platform this morning to share some of his observations about the leading altcoin Ethereum (ETH). According to the post, there has been an increase in ETHs active users, transaction volume, and blockspace demand. The analyst indicated that this could be indicative of healthy ETH network adoption. Ethereum: Active addresses momentum (Source: kaba) Meanwhile, the analyst also shared that the monthly average of active ETH addresses has been rejected by the yearly average. This, according to the analyst, suggests weak network fundamentals and reduced utilization. Ethereum / Tether US 1D (Pinagmulan: TradingView) In related news, ETH has made it onto CoinMarketCaps trending list and occupies the number 9 position on the list. Despite ETH trending, the crypto market tracking website indicates that the leading altcoin is currently trading hands at $1,847.78