Ethereum Monthly Analysis – April 2022

Ethereum Monthly Analysis – April 2022

In this article we will be looking at Ethereum’s price and market performance in April 2022.

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The “ethereum april 2022” is a monthly analysis of the Ethereum cryptocurrency. It covers price trends and market activity.

Ethereum Monthly Analysis – April 2022

In the first week of April, Ethereum fell below $3,200, and it continued to fall throughout the month. Ether lost nearly 18% of its value in the 30-day span between the first and final day of the month. Here’s a deeper look at the network’s and native token’s performance in April:

Market Indicators

Market capitalization

The largest smart contract platform saw its Market capitalization decline by in excess of $50 billion across April, from $396.14 billion at the start of the month. The figure touched the monthly peak of $428.33 billion on April 4 – the highest figure since early January – then plummeted towards the end of the month.

Ethereum Monthly Analysis – April 2022

The lowest Market capitalization on Ethereum was recorded on April 29 with the figure sinking as low as $335 billion.  Extended losses in May have seen Ethereum’s Market capitalization fall to $283.17 billion at the time of writing – approximately 38% off this year’s peak reached on January 3 – $456.85 million.

Supply expansion

The quantity of Ether (ETH), Ethereum’s native coin, expectedly followed its upward trend from Q1. On April 1, the network’s total supply of ETH was 118,662,567.6 tokens. The number continuously increased during the month, and by April 30, the token supply had reached 118,963,566.8 ETH.

The token supply rose by 300,998 tokens throughout the month, which is similar to the rise experienced in March. Up until March, the monthly extra token supply has been steadily increasing, with 56,511 ETH added in January and 204,505 ETH added in February.

Metrics for Blockchain and Networks

Every day transactions

The total Every day transactions on the Ethereum blockchain hovered below 1.2 million for most of the month, only ever rising above that mark on three dates – 19 th, 20 thand 30 th. Otherwise, the numbers remained consistent over the course of the month, EtherScan datashows.

Ethereum Monthly Analysis – April 2022

On April 1, there were 1,159,493 transactions on Ethereum, but on April 17, the number had dropped to 1,043,251 transactions, a monthly low. On April 20, the network achieved its monthly high point, with 1,241,534 transactions.

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Individual addresses

The number of total distinct addresses on the Ethereum network grew from 192,287,213 Individual addresses on the first day of the month to 194,858,512 on April 30. This change represented a 1.33% growth in the number of total token addresses. Notably, January remained the month with the highest addition of Individual addresses of any month this year – 3,254,408 new addresses.

The first day of the month saw the greatest rise in addresses of any day in April, with 99,527 new addresses. On April 17, the Ethereum network had the lowest daily rise of the month, with 78,423 new addresses generated.

Active addresses every day

The number of total Active addresses every day is an indicator of the weight of activity taking place on a network. This count dwelled primarily below 500,000 addresses for most days of April, a level above which the number of active addresses remained for nearly the whole of March.

Ethereum Monthly Analysis – April 2022

On April 20, the Ethereum network had the greatest activity, with 597,610 addresses being recorded. Nonetheless, March saw the highest number of active addresses this year, with 639,040 on March 18.

Transaction fees on average (USD)

The daily average transaction costs on the network fell in April, albeit in a far more erratic way. The average transaction cost was $9.89 on April 5, the highest price reported on the network since February 6.

Ethereum Monthly Analysis – April 2022

This was at least twice as much as any other cost charged on the network last month on any other day. Following then, the daily changes indicated a gradual decrease, with declining peaks and deeper troughs. On April 23, the lowest average transaction cost on Ethereum was $1.30.

Network hash rate average

Historically climbing and mounting new highs each day, the Network hash rate average on Ethereum increased over the course of April. The two all-time high Network hash rate average figures were observed on April 18 (1,063,522.30 GH/s) and April 30 (1.064,295 GH/s). The chain’s average computational power hit its lowest on April 4 – 1,013,221.29 GH/s.

Performance in DeFi

Locked Total Value (TVL)

On the final day of the month, the TVL on Ethereum’s decentralized financial scene declined 7.4% from $120.94 billion at the start of the month to $111.97 billion. According to DeFiLlama, the highest TVL of 125.98 billion was recorded on April 5 and the lowest on April 30, indicating a continual fall from April 1.

Market share of DeFi

The Ethereum DeFi ecosystem’s dominance stayed stable throughout the month, and was not indicative of the first quarter’s reductions.

This year, the network saw some of the steepest drops in market share it had ever seen. The one-week breakdown between February 22 and March 2 when Ethereum’s market share fell from 59.56 percent to 54.6 percent is notable. All of this has occurred as a consequence of rival ecosystems acquiring clout by providing better transaction terms than the dominant smart contract platform.

In April, Ethereum’s market share fluctuated favorably until mid-month, then fell somewhat before recovering towards the end of the month. On April 1, the network had a 54.13 percent market share, which peaked two weeks later on April 16 at 55.81 percent. Though it dropped to 54 percent in the last few days, it managed to recapture 55 percent for the remainder of the month.

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Ethereum is a cryptocurrency that has been around since 2015. In April, Ethereum had a monthly analysis of $7.1 billion. This was the lowest monthly total in 2019. Reference: ethereum may 2022.

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