Ethereum

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-declines-as-user-interest-grows/" data-wpel-link="internal">Ethereum Price Declines as User Interest Grows</a><br></p>
<p style="text-align: justify"><strong>21milyon.com</strong> reports that <a href="https://en.coin-turk.com/ethereums-price-surge-potential-amid-expectation-of-blackrocks-etf-approval/" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/googles-bard-and-its-potential-in-crypto-forecasting-the-ai-evolution-continues/" data-wpel-link="internal">ETH</a>) continues to decline, falling below $3,000 after a 3% drop in the last 24 hours. Currently, Ethereum, the second-largest cryptocurrency, is trading at $2,914, reflecting a 13.34% decrease over the month. However, this negative price movement does not seem to be limiting demand for the token.</p> 
<h2 id="santiment-s-ethereum-report">Santiment’s Ethereum Report</h2> 
<p style="text-align: justify">According to on-chain analytics firm Santiment, Ethereum has seen a sharp increase in the number of new users joining the network. Approximately 266,6 thousand new wallets were created on April 28 and 29, marking the largest two-day network expansion since October 2022.</p> 
<p style="text-align: justify">Network expansion is one of the primary measures to determine whether a cryptocurrency is gaining interest. The participation of new users demonstrates confidence in ETH’s long-term potential, disregarding short-term fluctuations.</p> 
<p style="text-align: justify">A more detailed examination revealed that individual users are also joining this trend. According to the analysis by cryptocurrency analytics firm Santiment, addresses holding between 0 and 0.1 units of ETH significantly increased while prices fell. Wallets holding more than 1 ETH were selling, as indicated by the decrease in ETH reserves.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-347053 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/eth.jpg" alt="" width="1106" height="593"></p> 
<h2 id="investor-interest-in-eth">Investor Interest in ETH</h2> 
<p style="text-align: justify">The findings mentioned above show that individual investor interest in ETH is strong, and healthy entries from this segment could contribute to a relief rally in the coming days. Most of these individual customers purchasing ETH may have been attracted by the returns offered by ETH staking services.</p> 
<p style="text-align: justify"><strong>Glassnode</strong> data indicates that the total ETH stake had risen to 44.24 million at the time of writing, accounting for 36% of ETH’s total circulating supply. Meanwhile, the supply of ETH on exchanges continues to shrink, dropping to 12.79 million at the time of writing, which constitutes about 10% of the total circulating ETH cryptocurrencies.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-price-declines-as-user-interest-grows/" data-wpel-link="internal">Ethereum Price Declines as User Interest Grows</a></h5>

Ethereum Price Declines as User Interest Grows

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