Address Activity on Ethereum Network Falls to Lowest Level in a Month: Report
The level of activity on the Ethereum network saw a decline at the end of the week, reaching its lowest point since November.
Santiment data showed that the average daily number of wallets involved in transactions dropped to 383,300. In contrast, network activity saw an increase in the past month, reaching its highest point since October 27.
The number of addresses sending and receiving funds within 30 days rose to 5.82 million. During early December, there was an influx of ether being sent to exchanges by traders.
This led to an increase in the volume of cryptocurrency on trading platforms, reaching 14.224 million ETH. Although there was increased pressure, the price of ETH remained above $2,000 and even strengthened to $2,291 on the night of December 15.
It was observed that whale activity on the Ethereum network has also been on the rise. Since late November, there have been an increasing number of transactions worth $100,000 or more on the blockchain.
According to IntoTheBlock, the key support zone for Ethereum is at $1934-2160, while resistance levels are expected to strengthen at $2,300-2,400.
