The number of active unique addresses on the Ethereum blockchain has declined by 9.84% over the past ten days.
Notably, this percentage is higher than Binance Smart Chain (BSC), which lost 8.27% last week despite having more active addresses overall. At the time of publication, the number of active crypto wallets on the Ethereum blockchain was 1.65 million.
A week ago, approximately 1.81 million addresses were actively participating in the network, both as senders and receivers of successful transactions. In this regard, of the observed L1/L2 networks, only Fantom, Arbitrum, and Optimism performed worse than Ethereum.
Interestingly, Celo and Ronin saw a 15.14% and 3.92% increase in on-chain activity this week, respectively. One of the reasons for the drop in the number of active addresses may be the reluctance caused by the price drop that has hit most major digital assets in recent days.
Despite the current market downturn, however, there is no shortage of optimism. In fact, the co-head of Galaxy Digital Trading predicts that Ethereum could turn Bitcoin around within three years, citing increased institutional demand for it, with ETH 2.0 as the driving force.
Meanwhile, the crypto-community CoinMa predicts that by the end of April, Ethereum will be trading as high as $ 3,769 with 80 percent historical accuracy.