’s activity amongst new addresses declined. This was indicated by the declining network growth on Ethereum. A declining network growth suggested that the frequency at which new addresses had transferred ETH had reduced.
The decreasing activity from new addresses could be due to the fact that most of these addresses were holding their $ETH at a loss. This was implied by the declining Market Value to Realized Value ratio. It inferred that most ETH holders would be taking a loss if they decided to sell their positions.
The negative long/short difference implied that most of the holders that were not profitable, were primarily new addresses.Thus, it remains to be seen whether these new addresses will sell their positions at a loss or continue to hold on to their ETH. At the time of writing, Ethereum was trading at $1219.31 and its price had increased by 0.21% in the last 24 hours.Subscribe to get it daily in your inbox.