Recent data shows that the Ethereum network reached a record number of active addresses despite a decrease in the cryptocurrency's value.
Ethereum Active Addresses Hit Peak
According to crypto analyst Ali Martinez, the Ethereum network recorded the highest number of active addresses this year. In July, the number reached 841,100, which is a record figure. This surge occurred alongside a price decline from $3,875 to $3,540, representing nearly a 10% drop.
Ethereum ETFs Absorb 8,183 ETH
According to data from the Lookonchain account, on August 1st, ten spot Ethereum ETFs acquired a total of 8,183 ETH worth $29.83 million. The largest portion was scooped by BlackRock’s ETF, acquiring 4,841 ETH valued at $17.65 million.
Overall Market Picture for Ethereum
Additionally, it has been reported that the Grayscale Ethereum Trust acquired 1,989 ETH, while the Fidelity Ethereum Fund took in 1,498 ETH. These figures underscore the current activity in the Ethereum market and highlight investor interest despite recent price fluctuations.
The record activity of Ethereum addresses confirms the growing interest in the platform despite price declines, emphasizing the importance of fundamental positions even amid instability.
