The number of new Ethereum addresses in March hit a new high since November 2021, and the activity of long-term holders significantly decreased

According to PANews on April 8, based on data from The Block, the active supply of Ethereum (i.e., the supply transferred from one wallet to another within a specific time period) is currently at its lowest point in a year or longer. The active supplies for 30 days and 90 days are also close to historical lows, more than half lower than their peaks.

Despite the fact that the active Ethereum supply has dropped about 9% over the past year, Bitcoin's active supply has rebounded after hitting a new low, ending this period with an annual increase of approximately 1%. Bitcoin's recovery significantly reduced the huge gap that once existed between these two cryptocurrencies' active supplies.

Although long-term users of Ethereum seem to show lower activity levels, enthusiasm for Base has reached record levels and new users appear to be flooding into the Ethereum ecosystem. Last month, Ethereum added 3.66 million new addresses which is highest level since FTX crashed in November 2021.