Altcoin Winter Arrived? Ethereum and Solana Activity Drops Dramatically

Jakarta, Pintu News –Recent indications from on-chain data suggest that perhaps altcoin winter has arrived, with Ethereum (ETH) and Solana (SOL) as well as other cryptocurrencies experiencing a significant drop in activity.

Decline in On-Chain Activity on Altcoins

According to a recent analysis from Sentora, an institutional DeFi solution provider, there has been a notable decline in interest in altcoins. The indicator used in this analysis is “Active Addresses”, which measures the number of addresses involved in transactions on the network each day.

When the value of this metric increases, it indicates that more users are making transfers on the blockchain. A rise in this trend indicates that trading interest in the cryptocurrency may be on the rise. However, a decrease in this indicator suggests that investors may start to shift their attention as they reduce transaction activity on the network.

Also Read: Will Bitcoin (BTC) Experience a Sharp Drop Before Surging Again? Here’s the Analysis!

Downward Trends in Ethereum and Solana

Ethereum (ETH), as the largest altcoin, showed a significant decline in its Active Address metric. At the end of July, there were 589,000 active addresses, but now only 488,000 addresses are making transactions, down about 17% from its peak.

A decline in the number of interacting users on the Ethereum (ETH) network indicates weaker on-chain demand, a pattern often seen in previous bear market phases. Solana (SOL) also shows a similar trend, with a decline in active users of around 30% during the third quarter of 2025.

Impact on Memecoin and DeFi Trading Volume

Memecoins have also been hit hard in the recent market downturn, with their on-chain activity also seeing a drop. Dogecoin (DOGE), the largest meme-based token, only saw a slight drop in Active Address, but Pepe Coin (PEPE) saw an 85% drop.

This drastic drop shows how quickly a speculative user base can evaporate. In addition, DeFi’s trading volume has also started to show a downward trend. While this metric is still relatively strong compared to other cryptocurrency-related indicators, a change in direction is already beginning to be seen.

Conclusion

With falling prices and decreased on-chain activity, the altcoin sector may be entering winter. While it is too early to be sure, the current data echoes past cycles. The sector is more than six months into a slowdown, with signs of winter starting to appear.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Altcoin Winter: Ethereum, Solana Activity Plunges. Accessed on November 6, 2025