Data shows that the Ethereum network recently set a new all-time high (ATH) in the Active Address indicator, suggesting peak user activity.
30-Day MA of Ethereum Active Addresses Reaches New ATH
As highlighted by CryptoQuant community analyst Maartunn in X’s post, Ethereum Active Addresses set a new record for its 30-day moving average (MA). This on-chain indicator tracks the total number of addresses that participate in a certain type of activity on the blockchain every day.
If the value of this metric increases, it means that the number of users communicating in the network increases. Such a trend suggests that cryptocurrency is attracting attention. On the other hand, a declining index suggests that addresses are no longer valid, possibly because investors have lost interest in the blockchain.
Now, here’s a chart shared by Maartunn that shows the trend in the 30-day MA of active Ethereum addresses over the last decade:
Looks like the value of the metric has shot up recently | Source: @JA_Maartun on X
As shown in the graph above, the 30-day MA of Ethereum Active Addresses has seen a rise alongside the bullish rally in the second half of 2025, which means that user activity has increased. Rising prices tend to be attractive to investors, so it’s not uncommon to see transaction interest rates rise around you.
From the chart, it can be seen that if the market change occurs in the last half of 2025, Active Addresses also start to decrease, which is a sign that investors start to shift their attention away from the network.
From 2026 to now, however, something unusual has happened. When Bitcoin saw another leg down in February, what accompanied it was a sharp spike in the index that took its value to a new ATH.
In the past, cyclical peaks in Active Addresses have often coincided with large bull runs, bear markets often evidenced a decline in the metric. As such, the latest trend in the Ethereum network has broken the normal pattern.
In other news, Ethereum spot exchange-traded funds (ETFs) started in the green earlier, but the past two days have seen netflows return to the negative, as data from SoSoValue shows.
How the US ETH spot ETF netflow has changed over the last few months | Source: SoSoValue
As seen in the graph above, US Ethereum spot ETFs saw an outflow of $136.4 million over the past day. In the previous day, they saw an outflow of more than $55 million. Although these red netflow spikes do not reflect all the inflows that occurred during the six-day trip, they still indicate a change in market sentiment.
Trading currency of ETH
At the time of writing, Ethereum is floating around $2,100, unchanged from last week.
Looks like the price of the coin has retraced from its highs | Source: ETHUSDT on TradingView
Featured image from Dall-E, chart from TradingView.com
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