Prices for the past few weeks have been Ethereum Due to the highly volatile market environment, stock prices are on a downward trend. ETH’s bearish behavior appears to be hampering on-chain activity, as evidenced by a decrease in the total volume of trades executed within the monthly period.
A quiet month for the Ethereum network
Ethereum’s on-chain activity appears to be slowing down with the continued decline in ETH prices. Blockchains, typically crowded with contract invocations, exchanges, and transfers, are currently feeling a little more at ease, suggesting a cooling pulse below the surface.
As a result of investigating the transaction, ethereum network Everstake.eth, Market Analyst and Head of ETH Segment at Everstake, analyzes indicators on a monthly time frame. revealed Blockchain reported its worst month of the year. Although the price has fallen, the total volume of transactions executed on ETH during the month has cooled, especially in November.
According to the data, overall Number of transactions performed on the Ethereum network In November alone, there were approximately 32.2 million people. While this number may seem large, it actually marks the lowest monthly number in the past 12 months.
This decline in transactions could signal that demand on the network is waning again. This delay not only signals a setback, but also looks like a collective pause for users to catch their breath, procedures to readjust, and the market to adapt to a new rhythm.
Everstake.eth highlighted that this type of cooldown typically occurs when the market moves into a wait-and-see phase. At this stage, we observe capital sitting on the sidelines while developers continue to build on the blockchain. Despite this trend, the network recorded over 33 million transactions even in quiet months, reflecting its solid strength.
At such times, experts pointed out that user behavior usually follows market sentiment. As we have seen in the past, when volatility decreases, on-chain activity tends to cool down. However, Ethereum maintains its position as the most reliable network, even in its slow stages.
and Fusaka Upgrade is coming to marketEverstake.eth predicts that ETH trading will explode. “If this was the worst month, imagine what the best month will be after Fusaka rolls out. It’s going to be huge,” the expert said.
Picking up ETH active transactions
Although the monthly transaction volume may be decreasing, Active addresses on the Ethereum network It’s heating up again. Leon Waidmann, Head of Research at the On-Chain Foundation, said: reported Active addresses across the entire ecosystem, Layer 1 and Layer 2, exceeded 9.5 million this week.
This surge signals a quiet resurgence in interest, usefulness, or readiness for the group for the future. Weidman emphasized that this is the first meaningful reversal after weeks of bearish markets.
Ethereum Layer 2 such as Base, Arbitrum, Optimism, and World Chain have shown strong recovery after a period of stagnation. Additionally, multichain activity has begun to stabilize after a decline in the third quarter. These factors give a bullish picture to the network and its price outlook.
Featured image from Freepik, chart from Tradingview.com
