Ethereum Activity Soars: Active Addresses Set New Record

bitcoinistPublished on 2026-03-21Last updated on 2026-03-21

Abstract

Ethereum has set a new all-time high in its 30-day moving average of active addresses, indicating a significant surge in user activity on the network. This increase occurred in February 2026, a period during which Bitcoin experienced a downturn—breaking the conventional pattern where address activity typically cools during bear markets. Despite this record engagement, the U.S. Ethereum spot ETFs have recently seen two consecutive days of net outflows, totaling over $191 million. Meanwhile, Ethereum’s price remains steady at approximately $2,100.

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

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Related Questions

QWhat new all-time high has the Ethereum network recently set according to the article?

AThe Ethereum network has set a new all-time high (ATH) in the 30-day moving average of Active Addresses.

QWhat does a rise in the Active Addresses indicator typically signify for the Ethereum network?

AA rise in the Active Addresses indicator signifies that the number of users interacting on the network is increasing, suggesting the cryptocurrency is attracting more attention.

QHow did the article describe the recent trend in Ethereum Active Addresses compared to conventional patterns?

AThe recent sharp spike in Active Addresses to a new ATH during a period when Bitcoin's price declined broke the conventional pattern where peaks in this metric usually coincide with bull runs and cool down during bear markets.

QWhat was the net flow status of US Ethereum spot ETFs in the last two days mentioned in the article?

AIn the last two days, the US Ethereum spot ETFs saw net outflows, with over $55 million the day before and $136.4 million on the past day, flipping the trend to negative.

QWhat was the price of Ethereum at the time the article was written?

AAt the time of writing, Ethereum was floating around $2,100.

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