{"id":28282,"date":"2020-09-07T12:24:20","date_gmt":"2020-09-07T09:24:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28282"},"modified":"2025-08-27T10:54:22","modified_gmt":"2025-08-27T07:54:22","slug":"ethereum-on-chain-activity-has-declined-the-defi-segment-feels-the-impact","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ethereum-on-chain-activity-has-declined-the-defi-segment-feels-the-impact\/","title":{"rendered":"Ethereum on-chain activity has declined. The DeFi segment feels the impact."},"content":{"rendered":"<p>The pace of new ETH address registrations fell sharply in early September. The metric correlates with Ethereum&#8217;s price, according to analysts from <a href=\\\"https:\/\/t.me\/xangledefi\/129\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Xangle<\/a>.<!--more--><\/p>\n<p>\\n<\/p>\n<p>The chart below shows that the number of new addresses has reached a 90-day low.<\/p>\n<p>\\n<\/p>\n<p><img loading=\\\"lazy\\\" decoding=\\\"async\\\" class=\\\"size-full wp-image-109414 aligncenter\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/photo_2020-09-07_04-35-46.jpg\\\" alt=\\\"On-chain activity of Ethereum has declined. This has affected the DeFi segment\\\" width=\\\"886\\\" height=\\\"708\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/photo_2020-09-07_04-35-46.jpg 886w, https:\/\/u1f987.com\/wp-content\/uploads\/photo_2020-09-07_04-35-46-300x240.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/photo_2020-09-07_04-35-46-768x614.jpg 768w\\\" sizes=\\\"auto, (max-width: 886px) 100vw, 886px\\\" \/><\/p>\n<p>\\n<\/p>\n<p>This, researchers say, is a sign of a market correction.<\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>\u201cThe number of new address-accounts has been steadily declining since May. This means that the number of new participants in the DeFi market is on the decline.\u201d<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>Experts noted that Ethereum\u2019s price drop of 12% was accompanied by a 40% fall in the value of assets locked in DeFi protocols (TVL) from their peak levels.<\/p>\n<p>\\n<\/p>\n<p><script async src=\\\"https:\/\/telegram.org\/js\/telegram-widget.js?11\\\" data-telegram-post=\\\"xangledefi\/108\\\" data-width=\\\"100%\\\"><\/script><\/p>\n<p>\\n<\/p>\n<p>Currently, total TVL stands at $7.91 billion, though the figure recently approached the $10 billion mark.<\/p>\n<p>\\n<\/p>\n<div id=\\\"attachment_109410\\\" style=\\\"width: 893px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-109410\\\" class=\\\"wp-image-109410 size-full\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Pulse-9.png\\\" alt=\\\"On-chain activity of Ethereum has declined. This has affected the DeFi segment\\\" width=\\\"883\\\" height=\\\"671\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Pulse-9.png 883w, https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Pulse-9-300x228.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/DeFi-Pulse-9-768x584.png 768w\\\" sizes=\\\"auto, (max-width: 883px) 100vw, 883px\\\" \/><\/p>\n<p id=\\\"caption-attachment-109410\\\" class=\\\"wp-caption-text\\\">Data: <a href=\\\"https:\/\/www.defipulse.com\/\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">DeFi Pulse<\/a>.<\/p>\n<\/div>\n<p>\\n<\/p>\n<p>In the DeFi space, Uniswap leads, with Aave close behind.<\/p>\n<p>\\n<\/p>\n<p>The decline in on-chain activity and the cooling of the DeFi space has been reflected in Ethereum&#8217;s transaction fees, with the average dropping from $15 to $2.58.<\/p>\n<p>\\n<\/p>\n<div id=\\\"attachment_109411\\\" style=\\\"width: 1028px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-109411\\\" class=\\\"size-full wp-image-109411\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_2-65.png\\\" alt=\\\"On-chain activity of Ethereum has declined. This has affected the DeFi segment\\\" width=\\\"1018\\\" height=\\\"575\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_2-65.png 1018w, https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_2-65-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Screenshot_2-65-768x434.png 768w\\\" sizes=\\\"auto, (max-width: 1018px) 100vw, 1018px\\\" \/><\/p>\n<p id=\\\"caption-attachment-109411\\\" class=\\\"wp-caption-text\\\">Data: <a href=\\\"https:\/\/blockchair.com\/ethereum\/charts\/average-transaction-fee-usd?interval=3m&#038;compare=bitcoin\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Blockchair<\/a>.<\/p>\n<\/div>\n<p>\\n<\/p>\n<p>The chart shows that, at the time of writing, Ethereum&#8217;s average transaction fee is roughly the same as Bitcoin&#8217;s.<\/p>\n<p>\\n<\/p>\n<p>Earlier ForkLog <a href=\"https:\/\/u1f987.com\/en\/news\/defi-project-tokens-gain-popularity-among-whales\">reported<\/a> that DeFi tokens are gaining traction among major players interacting with centralized exchanges and OTC platforms.<\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\\\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The pace of new ETH address registrations fell sharply in early September. This metric correlates with Ethereum&#8217;s price, according to Xangle analysts.<\/p>\n","protected":false},"author":1,"featured_media":28283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1320,1178,1093,46],"class_list":["post-28282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-address","tag-blockchain-fees","tag-defi","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=28282"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28282\/revisions"}],"predecessor-version":[{"id":28284,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28282\/revisions\/28284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/28283"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=28282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=28282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=28282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}