• New demand for Ethereum now sits at a year-to-date high.
• Its DeFi and NFT sectors, however, witnessed declines in the past week. 

The daily count of new addresses on Ethereum [ETH] assessed on a seven-day moving average reached a year-to-date (YTD) high of 116,000 on 14th March, according to The Block’s data dashboard.

This marked a 35% increase from the 86,000 unique addresses that appeared for the first time in a transaction of the native coin in the network on 1st January.

Ethereum’s rally in new demand to a YTD high came amidst a surge in its on-chain volume. AMBCrypto found that transaction volume on the network, also assessed using a seven-day moving average, attained a YTD high of $7 billion on 11th March.

As transaction volume rallied, the average fee paid per transaction on the network also climbed. According to The Block’s data, this reached a YTD high of $25 on 11th March. 

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Author: Abiodun Oladokun

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