Ethereum Active Addresses Hit One-Year Low as Retail Participation Drops
Ethereum network activity has fallen to one-year lows as active sending addresses drop toward ~170,000, signalling a pronounced withdrawal of retail participation. On-chain trackers (CryptoQuant, CryptoOnchain) report the decline as evidence that selling pressure from retail has largely exhausted itself, but new demand has not returned—leaving price stabilised yet fragile. ETH failed to hold the $3,200–$3,300 zone and is consolidating near ~$2,850 (around the 200-day moving average). Spot ETH ETFs turned net negative in recent flows, with an estimated ~$225 million outflow reported on one day and continued modest outflows through the week. Analysts warn that a decisive break below the $2,750–$2,800 area would open downside toward $2,400 (and a December close below $2,930 would risk deeper decline toward $2,000). A credible recovery requires both price stabilisation and a sustained rise in active sending addresses, ideally accompanied by expanding volume and positive ETF inflows. For traders: monitor active address trends and ETF flows alongside price action; treat low retail activity as possible seller exhaustion but expect limited near-term upside until on-chain demand returns. Keywords: Ethereum, active addresses, retail participation, on-chain activity, ETH price, spot ETF flows.
Bearish
The combined reports point to waning retail demand — active sending addresses at one-year lows and persistent spot ETF outflows are signs of weak near-term demand for ETH. Price has failed to reclaim the $3,200–$3,300 zone and is consolidating around ~$2,850 near the 200-day MA. Historical patterns and analyst warnings imply that without renewed on-chain activity and positive ETF flows, downside risk is elevated: a break below $2,750–$2,800 could push price toward $2,400 and a December close below $2,930 could open deeper losses toward $2,000. In the short term, expect limited upside and possible further consolidation or decline as retail absence removes early momentum; volatility may remain but directional conviction is low. In the medium-to-long term, periods of low retail activity can coincide with institutional accumulation, so a durable bullish reversal would require rising active addresses, expanding volume, and sustained positive ETF inflows to confirm renewed demand.