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Ethereum Price Forecast: Network activity drops as prices stay muted

From fxstreet.com

Ethereum (ETH) is attempting to recover above the $2,300 level on Thursday, following a week of declining network activity. Active addresses, which track the number of wallets sending and receiving tokens or interacting with smart contracts, have risen over the past week after a steady decline the previous week. While the growth appears positive on the surface, it wasn't accompanied by a subsequent rise in transaction counts, which measure the volume of user activity on the blockchain. Transaction counts fell sharply over the past week by roughly 1 million, before slightly picking up in the past few days. The ... (full story)

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  • Category: Technical Analysis