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The latest data indicate that Ethereum has reached a milestone in terms of unique addresses that exceed 50 million. While this news is a good sign of growth, the actual number of active addresses has declined substantially.
50 million Ethereum addresses
The etherscan metrics indicate that Ethereum has crossed 50 million addresses over the weekend. During its peak at the beginning of January, Ethereum recorded the highest increase in single addresses added to 352.888 per quarter day. On the other hand, its lowest number was 41 on 6 August 2015. So even during a massive bear market the only Ethereum addresses were still being made and growing.
Further research carried out by The Block indicates that active addresses are decreasing and have decreased by almost 70% from their peak. Citing figures of Coinmetrics, the peak of activity for the Ethereum addresses was January 16, 2018 at 719.093. Defines the activity as "the number of unique send and receive addresses that participate in transactions on a given day." This had fallen to 232.085 by December 15th. The percentage of active addresses among all Ethereum addresses is currently 0.46%, down compared to 3.5% seen in January.
Use of hashes and dApp downwards
From mid-November the Ethereum hashrate also collapsed and returned to the same levels observed during peak hours at the start of the year.
The demand for pawns dApps and ERC20 has decreased with prices this year, so these figures are not surprising. According to users all over the world, ETH dApps have been falling sharply since mid-October. The current number of users is 7,434 compared to about 17,000 only two months ago. Early July saw the lowest figure this year at 4,215.
The continued liquidation of Ethereum from ICO projects is keeping prices on the floor. According to recent data, 416,000 ETHs have been sold in the last few months, which has resulted in a further fall in prices.
Ethereum Market in Pain
At the time of writing Ethereum was trading at $ 85, down a whopping 94% from its historical high of just over $ 1,400 in January. The market capitalization has fallen below $ 10 billion for the first time since May 2017. This has allowed Ripple's XRP to outperform it and take second place with a market cap of just under $ 12 billion.
The lowest point for Ethereum this year was December 15 when it dropped to $ 82.83, a price not seen for over 18 months. Over the past seven days Ethereum has fallen 9.5% and looking back over the past month has downloaded more than 50% of its value.
There are a number of improvements planned for the project that will do wonders for its scalability, which is the main thing that blocks adoption right now. Once these are unrolled and the bears start hibernating, Ethereum will come back up again.
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