Ethereum [ETH] has seen a significant decline in both price and daily active addresses over the past week. The altcoin has experienced a 5.46% decrease in price, with ETH currently trading at $2480, marking a 6.18% decline in the last 24 hours.
Despite a previous upward trend that saw ETH increase by 1.57% on monthly charts, the altcoin failed to maintain momentum after reaching a high of $2729. This recent downturn has almost nullified the gains made over the month.
In addition to the price decline, Ethereum has also seen a notable drop in daily active addresses. According to Cryptoquant, Ethereum’s daily active addresses have decreased by 18.32% Year-To-Date, dropping from 382k to 312k. The lack of new investors entering the market has been cited as the main reason for this decline, despite increased liquidity following the approval of Ethereum ETFs in 2024.
The decline in active addresses typically leads to price dips, but the current market conditions suggest a potential recovery for ETH on price charts. Despite the decrease in active addresses, indicators like the funding rate aggregated by exchanges show a sustained rise in demand for long positions, indicating investor confidence in further gains.
Furthermore, Ethereum’s Open Interest Weighted funding rate remains positive, supporting the demand for long positions. Large holders of ETH have also continued to accumulate assets and hold their positions, with the outflow decreasing from 311.95k to 139.39k. This behavior suggests a positive outlook for the altcoin’s future.
Overall, despite the decline in active addresses, ETH is showing strength on price charts, indicating a positive sentiment in the market. If the current trend continues, Ethereum could potentially recover and reach the next significant resistance level at $2668. However, if the decline persists, ETH is likely to find support at $2728.
In conclusion, Ethereum’s recent price and active addresses decline may signal a temporary setback, but the overall market sentiment remains positive for the altcoin’s future prospects. The world of online shopping has revolutionized the way we shop for goods and services. With just a few clicks, we can now browse through thousands of products, compare prices, and make purchases without ever leaving the comfort of our homes. This convenience has made online shopping increasingly popular, with more and more people turning to the internet to fulfill their shopping needs.
One of the biggest advantages of online shopping is the wide variety of products available. From clothing and electronics to groceries and household items, you can find just about anything you need online. This makes it easy to find exactly what you’re looking for, no matter how niche or specific your needs may be.
In addition to the vast selection of products, online shopping also offers the convenience of shopping at any time of day or night. Unlike traditional brick-and-mortar stores, online retailers are open 24/7, allowing you to shop whenever it’s most convenient for you. This flexibility is especially helpful for those with busy schedules or limited time to shop during regular store hours.
Another benefit of online shopping is the ability to compare prices and find the best deals. With just a few clicks, you can easily compare prices from multiple retailers to ensure you’re getting the best possible price on your purchase. This not only saves you money but also helps you make informed decisions about where to shop.
Online shopping also offers the convenience of having your purchases delivered right to your doorstep. This eliminates the need to travel to a physical store, wait in line, or deal with crowded shopping malls. With just a few clicks, you can have your items delivered quickly and efficiently, saving you time and hassle.
Despite the many benefits of online shopping, there are some drawbacks to consider. One of the biggest concerns is the risk of security breaches and identity theft. When shopping online, you’re required to enter personal and financial information, which can make you vulnerable to cyber attacks. To protect yourself, it’s important to shop from reputable retailers and ensure that your personal information is secure.
Overall, online shopping has revolutionized the way we shop and has made it easier and more convenient than ever before. With a wide variety of products, competitive prices, and the convenience of shopping from home, it’s no wonder that online shopping continues to grow in popularity. By taking precautions to protect your personal information and shopping from trusted retailers, you can enjoy the many benefits of online shopping while minimizing the risks.