币界网报道：Ethereum network activity has declined significantly despite ETH's recent price surge, with daily active addresses dropping to their lowest levels since 2020. Data from Santiment shows Ethereum's active addresses fell below 400,000, a stark contrast to the 1.1 million seen during the 2021 bull run. Transaction volumes have also plummeted, with the 7-day average hitting just 1.05 million transactions—down from 1.35 million in early March. Analysts attribute this divergence between price and usage to reduced speculative trading and fewer NFT transactions, though some note that layer-2 solutions may be absorbing activity. Meanwhile, Ethereum's price rose 20% in the past week, buoyed by optimism around potential spot ETF approvals and the upcoming Dencun upgrade. Market observers suggest the network's current low activity could indicate a healthier, less speculative ecosystem, though concerns remain about declining developer engagement and the long-term impact of scaling solutions on mainnet usage.