The number of ERC-20 tokens created on Ethereum fell in November, as did the number of unique wallets hosted on the network. In this period of the bear market, all the activity of the web falls. We stock various Ethereum network indicators!
Reduction in the number of smart contracts created
The number of ERC-20 tokens created on the Ethereum network in October was 14,295. In November, this figure was 9,050. 58% reduction. However, this drop is comparable to the drop observed on all networks.
the Ethereum gas price is up a bit in November by 1.8%. In October, the average Ethereum price was 22.5 gwei. In November, it was 22.9 gwei. A small increase that is still reasonable compared to what we saw on the network a few months ago.
In terms of transactions, their number was 34,122,532, with a daily average of 1,100,726 transactions. In November this figure increased to 31,264,848 with an average daily volume of 1,042,161 transactions. He is a slight drop of 5.6%. This is the 6th consecutive month of a decrease in transactions on the Ethereum blockchain.




The number of daily transactions on the Ethereum network is falling (source: The Daily Hodl)
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Fill the separate wallets down
The number of unique active wallets per day on the network for November was 405,577 430,783 in October. Therefore we saw a a reduction of more than 7%, last month. A logical fall given the sensitive market context of the crypto ecosystem.




Number of daily active wallets (source: Daily Hodl)
All indicators point to a drop in activity on the Ethereum network. Nothing is surprising during a bear market. Transactions, especially in decentralized finance, i steady decline for many months. We look at the free fall of the TVL on the different DeFi protocols as we can see on the specialized site DeFiLlama.




The TVL (Total Locked Value) has been in free fall since the beginning of the year (source: Defillama.com)
This decline is also more significant since the failure and bankruptcy of FTX. Among the leading protocols, MakerDAO shows a drop in TVL of more than 15% over a single month, as does Lido.
For Aave, yes even worse with a 27% drop.. Figures that show the delicate situation that the crypto market is suffering since the FTX crash.
News network
In network news, the Ethereum Foundation announced the turn off the Ropsten Testnet between 15 and 31 December. As a reminder, testnet allows developers to release updates or new features without risk to the mainnet.
In addition, the Rinkby network test will also close in mid-2023. These test networks played a particularly active role in the success of the Merger. In fact, a proof-of-stake consensus mechanism was first tested on the various test networks.
Where is the price of Ether?
While writing these lines, Ethereum can be bought for $1250. The asset is down just under 3% in the last 24 hours. The total capitalization of Ethereum is down almost 3% since yesterday.
As of now, Ethereum continues to trade in a range between $1000 and $1400. The $1000 support is currently being held despite many iterations. It is one of attention points traders and investors. Similarly, the resistance at $1400, a former support, is also still holding.
In addition, the EDF will announce the interest rate hikes or not, next week. It will be interesting to observe the reaction of the markets, especially in the event of a further rise, as expected by market analysts.
To learn more about the week’s NFT news, find our article here.