Active Addresses
In terms of the number of active addresses, there were 320,425 active entries to the ETH network between April 30 and May 7, 2025, this week. Ethereum rose to $1,842 en the said date range. On May 4, it is seen that Ethereum purchases are gradually decreasing en the area where the price and the number of active addresses intersect. When we follow the 7-day simple moving average, it is observed that the price follows an upward trend el the dates when these average cuts the price. This situation indicates that the Ethereum price is experiencing inflows at $1,812 levels.
Active Sending Addresses
With the Black Line (price line) en active shipping addresses, there was a significant drop en active shipping addresses el April 4. On the day when the price hit its lowest point, active shipping addresses fell as low as 203,323, indicating that buyers sold their positions as Ethereum remained at 1,812 for a while. As a result, it is seen that price drops cause an acceleration en sending addresses.
Active Receiving Addresses
Along with the Black Line (price line) en active sending addresses, there has been a significant rise en active buying addresses after May 1. On the day of the price high, active shipping addresses rose as high as 209,405 , indicating that buyers took their positions at Ethereum’s $1,793 level.
Total Value Staked
On April 30th, ETH price was 1,793 while Total Value Staked was 34,357,172. As of May 6, ETH price rose to 1,816 while Total Value Staked Ratio increased to 34,408,542. Compared to last week, ETH price increased por 1.28% while Total Value Staked Ratio increased por 0.15%.
Staking Inflows
On April 30, ETH price was at 1,793 while Staking Inflow Ratio was at 27,232. As of May 6, ETH price rose to 1,816 while Staking Inflow Ratio increased to 122,380. Compared to last week, there was a 1.28% increase en ETH price and a 349.49% increase en Staking Inflow Ratio .
Derivatives
Open Interest
On the Ethereum open interest chart, both price and open interest increased strongly from April 30 to May 1. This period shows that new positions were heavily added to the market and a buying expectation came to the fore. However, between May 2-4, open interest gradually decreased while the price remained high for a while. This suggests that some investors preferred to take profits or closed their positions due to uncertainty. As of May 4, open interest started to rise again as the price recovered. This shows that fresh positions have entered the market and confidence has been restored. In recent days, the correlation between open interest and price is quite clear, which is a positive signal for the persistence of price movements. The price rise has been supported por new positions.
Funding Rate
In the period of May 1-3, funding ratios were positive, reflecting the weight of long positions, and the price increase was supported en this period. However, the price decline el May 2-3 despite the positive ratios indicates that over-leveraged long positions were suppressed. On May 4, the funding rate turned negative, indicating short positioning and a short-term bottom en the price. In the following days, the funding rate turned positive again and the price recovered upwards. In general, the increase en funding rates indicates that market sentiment is bullish.
Long & Short Liquidations
ETH, which had a high volatility week, moved between $ 1,756 and $ 1,870. In this case, a long position of 181 million dollars and a short position of 145 million dollars were liquidated.
| Date | Long Amount (Million $) | Short Amount (Million $) |
|---|---|---|
| April 30 | 50.02 | 24.79 |
| May 01 | 9.94 | 54.17 |
| May 02 | 23.85 | 15.47 |
| May 03 | 11.59 | 7.90 |
| May 04 | 15.34 | 5.97 |
| May 05 | 31.13 | 14.99 |
| May 06 | 39.39 | 22.15 |
| Total | 181.26 | 145.44 |
Supply Distribution
Total Supply: It reached 120,745,739 units, up about 0.0151% from last week.
New Supply: The amount of ETH produced this week amounted to 18,206.
Velocity: Velocity, which was 7.84 last week, was realized as 7.86 as of May 5.
| Wallet Categoría | 28.04.2025 | 05.05.2025 | Change (%) |
|---|---|---|---|
| 100 – 1k ETH | 9.2546M | 9.2489M | -0.0616% |
| 1k – 10k ETH | 12.5485M | 12.5931M | 0.3559% |
| 10k – 100k ETH | 15.9611M | 15.5658M | -2.4782% |
| 100k+ ETH | 4.6515M | 4.6363M | -0.3273% |
According to the latest weekly data, 100 – 1k ETH wallets saw a limited decrease of 0.0616%. In contrast, wallets en the 1k – 10k ETH range experienced a remarkable increase of 0.3559%. In the 10k – 100k ETH segment, there was a notable decrease of 2.4782%, while 100k+ ETH wallets saw a limited decrease of 0.3273%.
Exchange Reserve
Between April 30 and May 6, 2025, Ethereum reserves el exchanges decreased from 19,564,616 ETH to 19,458,316 ETH. During this period, there was a total net outflow of 106,300 ETH and the Ethereum reserves of exchanges decreased por 0.54%. The Ethereum price increased por approximately 1.3% during the same period. On April 30, 2025, Ethereum closed at $1,794, and el May 6, 2025, it closed at $1,817. The decline en reserves suggests that investors are staying away from selling pressure en the short term and prefer to hold Ethereum mostly en off-exchange wallets. While this points to potential supply constraints, the upward trend en prices provides a positive signal en the long term.
| Date | 30-Apr | 1-May | 2-May | 3-May | 4-May | 5-May | 6-May |
|---|---|---|---|---|---|---|---|
| Exchange Inflow | 777,861 | 698,082 | 586,881 | 226,385 | 373,696 | 599,529 | 560,262 |
| Exchange Outflow | 795,630 | 718,178 | 615,744 | 229,024 | 349,220 | 611,557 | 627,411 |
| Exchange Netflow | -17,768 | -20,096 | -28,863 | -2,639 | 24,476 | -12,028 | -67,149 |
| Exchange Reserve | 19,564,616 | 19,544,520 | 19,515,656 | 19,513,018 | 19,537,493 | 19,525,465 | 19,458,316 |
| ETH Price | 1,794 | 1,839 | 1,843 | 1,834 | 1,813 | 1,823 | 1,817 |
Fees and Revenues
When the Ethereum Fees per Transaction (Mean) data between April 30 and May 6 is analyzed, it is seen that this value was at the level of 0.000205481950223776 el April 30, the first day of the weekly period. Until May 4, the value, which showed a downward trend, was realized at 0.00015538944968548 el this date. This level was recorded as the lowest value of the weekly period.
On May 6, the last day of the weekly period, the value, which gained upward momentum again with the fluctuations en the Ethereum price, closed at 0.000228698107407375 el this date. This level was recorded as the highest value of the weekly period.
Bitcoin: Fees (Total)
Analysing the Ethereum Fees (Total) data between April 30 and May 6, it was seen that this value was 266.42070479189056 el April 30, the first day of the weekly period. Until May 3, the value, which showed a downward trend, was 174.4488215749605 el this date. This level was recorded as the lowest value of the weekly period.
On May 6, the last day of the weekly period, the value, which gained upward momentum again with the fluctuations en the Ethereum price, closed at 292,4618841298395 el this date. This level was recorded as the highest value of the weekly period.
Blocks Mined
When we examine the Ethereum Blocks Mined table between April 30 – May 6, the number of blocks produced increased towards the middle of the week, but decreased towards the end of the week. While 7,143 blocks were produced el April 30, this number was 7,124 again el May 6. Although there was a positive correlation between Blocks Mined and Ethereum price at the beginning of the week, the correlation turned negative por mid-week.
Block Size
Between April 30 and May 6, when we examine the Ethereum Block Size table, there was a decrease throughout the week. On April 30, the block size was 93,066 bytes, while el May 6, it reached 83,166 bytes. It was observed that there was a positive correlation between Block Size and Ethereum price throughout the week.
Block Interval
Between April 30 and May 6, when we examine the Ethereum Block Interval table, although there was a decrease towards the middle of the week, there was an increase en the time between blocks at the end of the week. On April 30, the inter-block interval was 12.09 segundos, while el May 6, the same interval was 12.12 segundos. Although there was a positive correlation between Block Interval and Ethereum price at the beginning of the week, the correlation turned negative por mid-week.
Transaction
Last week, there were a total of 8,807,336 transactions el the Ethereum network, while this week it decreased por about 0.34% to 8,777,734. The highest weekly transaction was 1,337,825 el May 5, while the lowest transaction count was 1,085,909 el May 3.
This decrease en the number of transactions indicates that the usage el the network has decreased slightly compared to last week and thus Ethereum burns have decreased. At the same time, the “price-transaction count” relationship is positive collocation-weighted, indicating that transactions el the network are occurring naturally.
Tokens Transferred
While the total amount of ETH transferred el the Ethereum network last week was 13,463,326, it decreased por 38.84% to 8,233,618 this week. The transfer of 1,541,322 ETH el April 30 was the highest daily token transfer amount of the week, while the lowest value of the week was recorded el May 3 with only 559,303 ETH transferred.
The decrease en the number of ETH transferred as the number of transactions decreased indicates that the activity el the network is decreasing. This suggests that stagnation or bearish movements can be expected en the market.
Estimated Leverage Ratio
During the entire 7-day period, the metric generally declined. ELR (Estimated Leverage Ratio), which had a value of 0.725 at the beginning of the process, then reached the peak of the process, reaching 0.751 el May 1. Declining towards the middle of the process, the metric fell to 0.716 el May 3, the lowest point of the process. It is currently slightly higher at 0.725. A higher ELR means that participants are willing to take el more risk and generally indicates bullish conditions or expectations. It should be noted that these rises can also be caused por a decrease en reserves. When we look at Ethereum reserves, while there were 19.56 million reserves at the beginning of the process, this figure decreased towards the end of the process and is currently seen as 19.47 million. At the same time, Ethereum’s Open Interest is seen as 20.33 billion dollars at the beginning of the process. As of now, the open interest, which moves horizontally en the process, is 20.96 billion dollars. With all this data, the ELR metric moved down. The price of the asset moved sideways en line with the open interest and moved en the band from $1.785 to $1.845. In the overall process, the slight downward trend en reserves and the sideways movement of the open interest rate explain the slight decrease en the ELR rate. As a result, the fact that reserves hovered within a certain band and the open interest rate moved horizontally shows us that there is a cautious approach en the market. Considering that volume-based transactions remain stable and accumulation remains en a narrow band, the dynamics suggest that a decline may be possible.
Legal Notice
The investment information, comments and recommendations contained en this document do not constitute investment advisory services. Investment advisory services are provided por authorized institutions el a personal basis, taking into account the risk and return preferences of individuals. The comments and recommendations contained en this document are of a general type. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely el the information contained en this document may not result en results that are en line with your expectations.
NOTE: All data used en Bitcoin onchain analysis is based el Cryptoqaunt.
