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Ethereum Price Forecast: Declining active addresses weigh on ETH as open interest climbs to record high
Ethereum (ETH) active addresses metric is declining again after a brief recovery, approaching levels last seen at the beginning of the month. Since mid-February, the seven-day Simple Moving Average (SMA) of Active Addresses on the network has declined by roughly 50%, signaling rapidly declining onchain engagement and weakened sentiment in Ethereum even as prices remain subdued. A similar move is evident in Ethereum exchange reserves, which have remained largely flat over the past two weeks after a sharp rise earlier in the month. The sharp rise coincided with the beginning of ETH's recent decline. A move that aligns ... (full story)
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