Ethereum’s new addresses drop to year-low

Data shows that the number of new Ethereum wallets (7-day MA) is at its lowest level since December 2023. In addition, the average number of active addresses and transactions on the Ethereum network has also declined recently, reaching its lowest level in nearly six months. Following the recent launch of spot Ethereum ETFs in the United States, the decline in these numbers may indicate that some investors have gained exposure to Ethereum through these funds rather than purchasing tokens directly. (The Block)