Ethereum's active address count has dropped to 327,000, marking a seven-month low, as the cryptocurrency's price fell to $3,100 from $4,800. This represents a significant decline from the 483,000 active addresses recorded in August. Analysts attribute the 32% decrease in activity to prevailing bearish sentiment in the market. According to CryptoOnchain, the reduced usage indicates a shift towards caution among investors. A recovery in active addresses is considered crucial for a potential price rebound.