Ethereum's Active Traders Surge: A Sign of an Awakening Bull?

IntoTheBlock tracks addresses by how long it has held an asset. In this case, we're looking at ETH "traders", addresses that have held ETH for less than 1 month.

You can see this number increasing during bull markets, as new users join the network and become active, and decreasing in bear markets, as only long-term holders remain in the market.

The number of Ethereum traders has recently started to increase sharply and is now around the same levels as the first peak in the last bull cycle (light-red arrow). The current increase likely originates from increased meme coin speculation on Ethereum and could be the first solid sign of speculative traders returning to Ethereum in large numbers.