Number of active Ethereum users increased 36% in Q3 despite bear market

Data from Dune Analytics showed that Ethereum gained over 4.5 million new active users in the third quarter. The growth breaks the trend of steady decline in users the network has been facing since the fourth quarter of 2021 when ETH’s price rose to its all-time high of $4,890.

The 4.5 million new users represent a 36% increase in its active user base, showing that the ongoing bear market did little to curb interest in Ethereum.