Ethereum adoption skyrockets: Is ETH’s price recovery on the horizon? – BitRss

• New ETH ($3,184.27) addresses surged to over 200,000 daily while price dropped 5.57% to $3,051.
• Non-zero ETH addresses reached 136M with steady upward trajectory, suggesting growing ecosystem adoption.

Ethereum’s [ETH] network metrics have reached significant milestones in January 2025, with new address creation hitting a 27-month peak despite recent price corrections.

This surge in network activity provides crucial insights into potential market dynamics and adoption trends.

ETH price action and technical overview

The ETH/USD pair was trading at $3,051.36 at press time, marking a notable 5.57% decline in recent trading.

The MA cross between the 50-day (3,452.83) and 200-day (2,988.11) moving averages maintained a bullish structure, though price action has retreated below the 50-day MA.

Trading volume stood at 75.74K ETH, indicating substantial market participation during the selloff.