Amid the constant downfall in the price of Ethereum, its unique on chain active addresses are also moving toward downfall.
Since the beginning of last week, Crypto market has seen some unfair significant corrections discontinuously. On one side Bitcoin faced around 13%+ downfall in its price in the last 7 days, on the other hand Ethereum also lost its price around 14%.
Overall if we look at the whole Crypto then total Marketcap values saw valuation below $2 trillion, which remain always a tedious situation for the market to see a better push in prices of assets.
In the last 7 days of interval time, Ethereum blockchain lost total 9.84% of total numbers of unique addresses. Shocking fact in this rapid downfall in the numbers of active addresses for Ethereum is because Binance coin, native token of Binance exchange, saw only 8.27% downfall in active unique addresses.
The whole data was provided by Nalsen, crypto analytic platform, on 11 April. For other 8 Crypto assets, same category date can be seen in the attached picture below
In the present time total active addresses of Ethereum blockchain are approximately 1.65 million. While the same number was 1.81 million around a week ago.
Negative hint for ETH2.0 merge plan
In summer of this year, Ethereum will complete its shift of network from Proof-of-work Consensus to Proof-of-stake Consensus. And experts of this industry belives that it is going much important upgrade plan for Ethereum because it will decide future of Ethereum blockchain Ecosystem to step toward the future with the competition against another Proof-of-stake based blockchain networks.
But this downfall in the numbers of active addresses is showing much negative sign for this upgrade because majority of the traders are not taking this future network upgrade plan seriously and they are only looking at Market situation and pump/dump based metrics.
Read also: Commodity expert says Crypto industry moving on ‘unstoppable trajectory”
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