Over the past few weeks the price has been Ethereum The price is falling due to the volatile market environment. The bearish action in ETH appears to have hindered on-chain activity, as evidenced by the decline in total transactions performed during the month.
A Quiet Month for the Ethereum Network
Ethereum’s on-chain activity appears to have slowed down with the continued decline in the price of ETH. Blockchains, typically busy with contract calls, exchanges and transfers, are now a bit more spacious, hinting at a cooling pulse beneath the surface.
After checking the transaction details Ethereum Network Everstake.eth, which measures monthly indicators, is a market analyst and head of the ETH division at Everstake. exposed Blockchain recorded its worst month of the year. While the price was falling, ETH's total transactions executed during the month, especially in November, experienced a cooling off.
According to the data, overall Number of transactions performed on the Ethereum network In November alone, there were about 32.2 million people. While this number may seem large, it is actually the lowest monthly figure in the past 12 months.
This decline in transactions may suggest that appetite for the network is waning again. Besides suggesting a retreat, these delays are more of a collective pause as users catch their breath, readjust their procedures, and the market adjusts to a new rhythm.
Everstake.eth highlighted that this kind of pause usually occurs when the market enters a wait-and-see phase. At this stage, capital is observed sitting on the sidelines while developers continue to build the blockchain. Despite this trend, the network still recorded more than 33 million transactions during a quiet month, reflecting its strong strength.
In times like these, experts have pointed out that user behavior typically follows market sentiment. As seen in the past, on-chain activity tends to cool down when volatility falls. However, Ethereum still maintains its status as the most stable network, even in its slow stages.
with Fusaka upgrade coming to marketEverstake.eth predicts explosive growth in ETH trading. “If this is the worst month, imagine what the best will be like after Fusaka is released. It will be huge,” the expert said.
ETH active transaction pickup
Monthly transactions may have slowed down, but Active address on the Ethereum network It's heating up again. Leon Waidmann, head of research at the On-Chain Foundation reported Active addresses across the entire ecosystem, layer 1 and layer 2, rebounded to over 9.5 million this week.
These surges point to a quiet resurgence of interest, usefulness, or group readiness for the future. Waidmann emphasized that this marks the first meaningful reversal after weeks of downward action.
ETH Layer 2s such as Base, Arbitrum, Optimism, and World Chain have witnessed a strong rebound after a period of decline. Additionally, multichain activity is starting to stabilize after a decline in the third quarter. These factors paint an optimistic picture for the network and price outlook.
Featured image from Freepik, chart from Tradingview.com
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