@emmabunyan
A spike in Ethereum active addresses correlates with higher demand for blockspace and often precedes fee generation growth. Increased address activity—if driven by genuine users and application usage—supports transactional demand for ETH and enhances narrative for on-chain value capture. Short-term price sensitivity depends on whether activity is sustained and accompanied by economic transactions (swaps, NFTs, L2 settlements) rather than bot noise. Persistent growth strengthens ETH’s demand-side thesis.
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