Avalanche C-Chain on-chain active Address number falls to the lowest in 12 months

Golden Finance reported that according to data from The Block, the active Address number of Avalanche’s C-Chain has big dump to the lowest point in 12 months, 31,000, which is equivalent to the level in October 2023. In December 2023, the peak of active Addresses on the network reached 99,000, and the current user activity has dropped by nearly 70% from the peak in December. Analysts say that the decline in the number of active Addresses may be attributed to a variety of factors, including overall market weakness, intensified competition from other Layer 1 and Layer 2 solutions, and a cooling off of speculative interest.