@hardeywumhi
Ethereum's (ETH) network growth has reached significant milestones, with new address creation hitting a 27-month peak despite recent price corrections.
Price Action and Technical Overview
- ETH price dropped 5.57% to $3,051.
- MA cross between 50-day and 200-day moving averages maintained a bullish structure.
- Trading volume stood at 75.74K ETH.
Network Growth Analysis
- New Ethereum addresses surged to over 200,000 daily.
- Non-zero ETH addresses reached 136M with a steady upward trajectory.
- Spike in new ETH addresses coincides with increased market volatility.
Market Implications for ETH
- Growing adoption and potential accumulation at current levels.
- Contrast between price action and network growth could indicate a potential divergence.
- Sustained increase in network participation signals growing market maturity and potential institutional interest.
Overall, Ethereum's network growth suggests a strong foundation for potential future price recovery, despite current price corrections.
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