Ethereum missed out on crazy price moves this week. Over the past few days, Bitcoin has dominated the larger cryptocurrency market, making giant strides, almost breaching the $73,500 mark, its best performance in recent months. Other altcoins have also followed this trajectory, with SOL and DOGE following Bitcoin’s lead.

As Bitcoin Tests a Modern High Again in October, Ether delays, even reaching the low of $2,322 on October 3 last year. Since then, Ether has slowly climbed up the price charts, reaching as high as $2,721 before reaching $2,500 again.

🧵 Crypto network dynamics: analysis of address activity, transaction volume and market dominance trends.

1/4: Ethereum leads in lively addresses with 43%, reflecting robust network activity. Tron follows with 21%, signaling a growing user base, with Tether and Toncoin also… pic.twitter.com/zjyjQlqXBL

— IT technician (@IT_Tech_PL) October 30, 2024

Analysts say Ether’s recent move is due to increased on-chain activity. Based on IntoTheBlock data, it can be concluded that the Ethereum blockchain has seen an enhance in the number of addresses, beating other ecosystems. Blockchain accounts for 43% of all lively addresses, leading other popular blockchain projects such as BTC, TRX, TON and USDT.

Ethereum addresses dominate

Lively addresses on a blockchain are an vital metric that analysts look at to gauge the popularity of a blockchain. According to InTheBlock trackingthe Ethereum blockchain remains the leader, accounting for 43% of all lively addresses.

In second place is Tron with 27% of all lively addresses. TON by Telegram has also been on InTheBlock’s Top 5 list since October 1 and offers an compelling picture of its growing user base.

Other tokens making significant inroads into lively addresses include Tether’s USDT and Toncoin. Analysts say this data shows Ethereum’s dominance, especially in terms of adoption and network activity.

Can we expect ETH prices to enhance soon?

The latest data from lively addresses shows that Ethereum is currently the most lively blockchain. The strength of demand and interest in DeFi projects, dApps, and even NFTs can be attributed to the activity in its ecosystem.

As some blockchain analysts note, improving network activity and adoption often drive up prices. ETH may surprise with an increased number of lively addresses and prevailing market conditions. Other data on the chain supports the blockchain. For example, the exchange supply coefficient fell to 0.141 from 0.145, increasing accumulation.

What to expect from Ethereum in the next few days

Currently, ETH costs $2,516, which represents a weekly enhance of 3.74%. The number of lively addresses is also growing and there is a robust upward trend. Analysts predict that ETH will test the $2,800 mark again in the coming weeks or months.

Featured image from Bankrate, chart from TradingView