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Ethereum The Falling Star? ETH 2.0 Can Be A Savior!

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Ethereum has been ruling the world of DApps. It has been a go-to investment in altcoins. However, the network has been sailing rough tides for quite some time now. Netizens want the makers to ramp up the upgrades with the network. The delay in ETH 2.0 going fully operations is nerve-racking to many enthusiasts in the community.

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The ETH price have shown no notable improvements, owing to factors such as crackdown, and crisis. The coin at press time is trading at $3,014.03. The statistics of the network are disheartening for investors and traders. However, it is worth mentioning that the statistics are from Glassnode alerts at press time. 

The Lows

Ethereum miner revenue reaches a one-month low of $2,007,948.07. From its previous one-month low of $2,034,867.54, which is from 25th September 2021. The number of active addresses in 7d MA sees a month low of 29,847.369. Which is a thing of concern for the network and for investors as well.

Similarly, the percent addresses in profit for 7d MA witnesses a one-month low of 88.794%. The mean gas usage for 7d MA is a 19-month high of 88,596.661. From its previous 19-month high of 88,565.014, which was just a few days ago on the 29th of September 2021. 

The number of addresses in loss also reached a 1-month high of 7,035,438.506. Ethereum futures open interest reaches a one-month low of $75,004,088 on Kraken. While the previous one-month low of $75,315,737 was observed on the 27th of September 2021. 

The Highs

On the contrary, the number of addresses holding 0.11 coins sees an ATH of 5,698,410. And the total gas usage for 7d MA reaches a one-month low of 4,136,006,986.714. The mean block size on 7d MA saw an ATH of 85,765.31

On the other hand, the total value in the ETH 2.0 deposit contract reached an ATH of 7,809,666 ETH. The number of addresses holding 100+ coins also achieved a 4-month high of 42,916. From its previous high of 42,914, which was on the 28th of September 2021.

Collectively, Ethereum has a mixed bag to hold. While the acceptance, adoption, and popularity of the ecosystem are top tier. It does have things to gripe about. However, with the much anticipated ETH 2.0 in place. things will turn out in the network’s favor. Netizens hope for it to arrive sooner than expected.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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