{"id":29517,"date":"2022-06-10T00:59:41","date_gmt":"2022-06-10T04:59:41","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=29517"},"modified":"2022-06-10T00:59:52","modified_gmt":"2022-06-10T04:59:52","slug":"ethereum-address-activity-drops-to-two-year-low-eth-price-below-1800","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ethereum-address-activity-drops-to-two-year-low-eth-price-below-1800\/","title":{"rendered":"Ethereum Address Activity Drops To Two-Year Low, ETH Price Below $1,800"},"content":{"rendered":"\n
During the crypto market crash, the world's second-largest cryptocurrency, Ethereum<\/a> has come under significant pressure.<\/h5>\n\n\n\n
\n
\"\"<\/figure>\n<\/figure>\n\n\n\n

Despite the Ropsten testnet Merge upgrade's success, the Ethereum (ETH<\/a>) price has remained stable.<\/p>\n\n\n\n

On the other hand, on-chain address activity isn't supporting a price increase. According to Santiment data, Ethereum address activity and network growth have reached two-year lows. Santiment\u00a0reports\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>:<\/p>\n\n\n\n

“As\u00a0#Ethereum\u00a0crept back above $1,800 once again a few minutes ago, we\u2019re monitoring long-term fundamentals that would signal a turnaround for the #2 asset in\u00a0#crypto.\u00a0$ETH\u00a0is still seeing very low levels of new addresses, the lowest in over 2 years.”<\/p><\/blockquote><\/figure>\n\n\n\n

On the other hand, it appears that there is a conflict between the crypto non-exchange whales and exchange whales. However, non-exchange whales in ETH appear to be taking a marginal lead, with three times the coins held by exchange whales. Santiment\u00a0reports<\/use><\/svg><\/span><\/a>:<\/p>\n\n\n\n

“Ethereum\u2019s top 10 non-exchange vs. exchange addresses are maintaining a high ratio of\u00a0$ETH\u00a0owned over the top 10 non-exchange whales. With a tremendous 3.4x more coins held, there still appears to be a belief that prices can stabilize.”<\/p><\/blockquote><\/figure>\n\n\n\n

While the price of ETH continues to fall, the Ethereum blockchain is experiencing some positive fundamental developments. Earlier on Wednesday, June 8, the cry<\/p>\n\n\n\n

pro core developers completed The Merge upgrade on the Ropstent testnet successfully.<\/p>\n\n\n\n

As a result, the Ethereum development team will now move forward with plans to implement the same upgrade on the Ethereum mainnet by August 2022. The Merge<\/a> upgrade is critical to the successful transition of the crypto to the Proof-of-Stake Ethereum blockchain.<\/p>\n\n\n\n

The upgrade will significantly improve the Ethereum blockchain's network efficiency and scalability. We can anticipate a smooth transition to the PoS network in the coming months. It will also aid in increasing DeFi activity on the platform.<\/p>\n","protected":false},"excerpt":{"rendered":"

During the crypto market crash, the world’s second-largest cryptocurrency, Ethereum has come under significant pressure. Despite the Ropsten testnet Merge upgrade’s success, the Ethereum (ETH) price has remained stable. On the other hand, on-chain address activity isn’t supporting a price increase. According to Santiment data, Ethereum address activity and network growth have reached two-year lows. […]<\/p>\n","protected":false},"author":33,"featured_media":29519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,23],"tags":[],"class_list":["post-29517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/Ethereum-against-coins-gID_1.jpeg.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=29517"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/29519"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=29517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=29517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=29517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}