[Ethereum Active Addresses Drop to 327,000, Hitting a New Low Since May]
CryptoOnchain pointed out that activity on the Ethereum network has cooled down, with the 7-day moving average of active addresses dropping to 327,000, marking the lowest level since May 2025. This figure represents a significant contraction from the August peak of 483,000, during which the price of ETH fell from approximately $4,800 to around $3,100. The correlation between price and activity reflects a decline in demand for block space and the exit of some retail or short-term participants. In a healthy bull market cycle, price increases are typically accompanied by an expansion in network usage. If the number of active addresses continues to rebound, it will serve as a key on-chain signal of returning demand and momentum.