Amount of Active Ethereum Addresses Only Fall by 7% Despite Market Volatility

According to the CEO of CryptoQuant, Ki Young Ju, the activity on the Ethereum network has remained consistently high. He has estimated that the number of addresses sending and receiving funds on a daily basis has fallen by only 7% in spite of the sharp volatility increase experienced by the crypto market following the UST crash.

As a result of it, the price of ETH fell below the $2,000 mark. Although the coin then rebounded slightly, it is still trading below that psychological barrier. The price of the asset has crashed by 56% from its peak of around $4,868.

The number of active addresses making daily transactions with both Ether and tokens deployed in the DeFi, GameFi and NFT ecosystems currently amounts to more than 500,000.

The CryptoQuant CEO has commented:

“The price of ETH is down 56%, but the number of active addresses is down only 7%. If we consider each address as a user, there are now 551,705 daily active users on Ether.”