The number of new Ethereum wallet addresses has dropped by over 44% in the last three months, despite a surge in the price of Ethereum. On June 27, there were over 138,000 new addresses, but by September 25, that number had fallen to just over 78,000. Analysts believe that the launch of spot Ether ETFs in the United States and the rise of competitor Solana's meme coins have contributed to the decline in Ethereum addresses. Additionally, multiple whales have been selling off their ETH during the price rally, which could affect further price increases. However, some analysts remain optimistic about the potential for increased demand and price surges for Ethereum.



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