Ethereum dominates with 43% active addresses, price up 3.7%
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The most important points summarized:
- Ethereum (ETH) leads with 43% of active addresses in the crypto market.
- The price of Ethereum has increased by 3.74% over the last week.
- On-chain data shows strong accumulation of ETH, which could indicate further growth.
- ETH could soon test the resistance at 2800 USD.
Ethereum dominates in active addresses
Ethereum has shown remarkable development in recent days. According to data from IntoTheBlock, Ethereum currently leads with 43% of active addresses, indicating strong usage and adoption of the network. This dominance is also reflected in the price movement, as Ethereum has consistently gained value since a local low of 2379 USD.
In comparison, Tron (TRX) holds second place with 27%, followed by other cryptocurrencies like Tether (USDT) and Toncoin (TON), which also show high transaction volumes. However, Ethereum remains the clear leader, particularly in areas such as decentralized applications (dApps), decentralized finance (DeFi), and NFTs (Non-Fungible Tokens).
What does this mean for the Ethereum price?
Typically, an increase in active addresses leads to a higher price. This was observed last week as well. Ethereum saw a price increase of 3.74%, which can be attributed to the growing activity in the network. Another indicator of positive development is the decline in the Exchange Supply Ratio, meaning the proportion of ETH held on exchanges. This ratio fell to a monthly low, suggesting that investors are withdrawing their holdings from exchanges and storing them in secure wallets. This signals confidence in Ethereum’s future price development.
Long-term holders show confidence
Another important factor is the MVRV Long/Short Ratio, which has remained negative in recent days. This shows that long-term investors continue to hold onto Ethereum and are in an accumulation phase. This trend suggests that ETH holders are confident that the price will continue to rise.
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Can Ethereum break the 2800 USD mark?
The current market conditions indicate that Ethereum is well-positioned to test the resistance at 2800 USD. The positive trend is supported by a decline in the ADX (Average Directional Index) and an increase in the +DI (Directional Indicator) to 26. At the time of writing, Ethereum was trading at 2643 USD, making further increases in the coming days likely.
Our assessment
The growing number of active addresses and strong network activity point to sustained demand for Ethereum. If these trends continue, ETH could break through the resistance at 2800 USD. On-chain data shows that investors have confidence in Ethereum’s long-term prospects, making further price gains likely.
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| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Price | $2,507.62 |
| 24h % | -5.32 % |
| 7d % | 0.68 % |
| 30d % | 0.91 % |
| 60d % | 2.59 % |
| 1y % | 38.62 % |
| Market Cap | $301,993,582,403.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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