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Mapping the Ethereum Landscape in 2023
Jake Kennis
Key Takeaways
4 min read
  • In June 2023, a different kind of ‘flippening’ occurred with the amount of ETH being staked surpassing ETH on exchanges. Since November 2022, there has been a 31% decrease in ETH balances on exchanges. Meanwhile, the amount of ETH staked recently passed 24.4m.
  • Despite a significant decline in active address counts across APAC, Americas, and EMEA since Ethereum’s ATH in 2021, 2023 has shown growth in all regions with APAC being the fastest-growing region with a 74% increase in address count.


2023 has been a big year for Ethereum and crypto in general. There has been a lot of focus on regulation and macro conditions, but what about the high-level trends we have seen on Ethereum?

In light of regulation, operation chokepoint, hacks, FUD, and many other obstacles, Ethereum keeps chugging along and many key trends are forming on-chain. At the time of writing this, Ripple won its court case, removing some uncertainty around what is considered a security. Note that this is a controversial decision that the SEC may appeal, and decisions from lower courts can get overturned on appeal. Nevertheless, it can be seen as a win amid wider turmoil in the industry. All of this is in the backdrop of the Bitcoin halvening,...