Data shows the Ethereum network has recently set a new all-time high (ATH) in the Active Addresses indicator, suggesting elevated user activity.
30-Day MA Of Ethereum Active Addresses Has Reached A New ATH
As highlighted by CryptoQuant community analyst Maartunn in an X post, the Ethereum Active Addresses has set a new record in its 30-day moving average (MA) value. This on-chain indicator keeps track of the unique total number of addresses that are participating in some kind of transaction activity on the blockchain every day.
When the value of this metric rises, it means the number of users interacting on the network is going up. Such a trend suggests the cryptocurrency is attracting attention. On the other hand, the indicator going down suggests addresses are turning inactive, potentially because investors have lost interest in the blockchain.
Now, here is the chart shared by Maartunn that shows the trend in the 30-day MA of the Ethereum Active Addresses over the past decade:
Looks like the value of the metric has shot up recently | Source: @JA_Maartun on X
As displayed in the above graph, the 30-day MA of the Ethereum Active Addresses saw a rise alongside the bull rally in the second half of 2025, implying user activity ramped up. Price surges tend to be exciting to investors, so it’s not unusual to see transaction interest go up alongside them.
From the chart, it’s visible that once the bearish market shift occurred in the last quarter of 2025, the Active Addresses also started going down, a sign that investors began to shift their attention away from the network.
In 2026 so far, however, something extraordinary has happened. While Bitcoin saw another leg down during February, what actually accompanied it was a sharp spike in the indicator that took its value to a new ATH.
In the past, cyclical peaks in the Active Addresses has tended to coincide with major bull runs, with bear markets usually witnessing a cooldown in the metric. As such, the latest trend in the Ethereum network has broken the conventional pattern.
In some other news, the Ethereum spot exchange-traded funds (ETFs) started on a green streak earlier, but the last two days has seen the netflow trend flip back to negative, as data from SoSoValue shows.
How the US ETH spot ETF netflow has changed over the last few months | Source: SoSoValue
As is visible in the above graph, the US Ethereum spot ETFs have seen $136.4 million flow out during the past day. The day before, they saw outflows of over $55 million. While these red netflow spikes haven’t retraced all the inflows that occurred during the early six-day streak, they still hint at a change of winds in the market.
ETH Price
At the time of writing, Ethereum is floating around $2,100, unchanged from one week ago.
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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