Ethereum Addresses Creation Falls to Lowest Level in 2024

The current number of newly created Ethereum wallet addresses has reached its lowest point this year, likely due to the introduction of spot Ether exchange-traded funds (ETFs) on the US stock market.

Data from The Block shows that the seven-day moving average of new Ethereum wallets is currently at its lowest level since December 2020, although it is still higher than most of 2020.

Additionally, the average number of active addresses and transactions on the Ethereum network has also decreased, reaching their lowest point in six months.

This could indicate that investors are choosing to gain exposure to Ether through ETFs rather than buying the tokens directly.