Here is your updated look at the performance of the Waves network for the week spanning Feb 8–14. During this timeframe, we observed a general pullback in key figures as the ecosystem moves toward normalization following a period of high intensity.

Specifically, the number of active unique addresses adjusted to 2,253, marking a 27.1% decrease WoW. Transaction volume also saw a reduction, totaling 306,395, which is an 18.9% drop WoW. As a result, total network fees came in at 1,532.74 $WAVES, down 19.4% WoW.

A key signal from this data is that user participation decreased at a sharper rate than transaction volume did. This trend points toward a concentration of activity rather than a general loss of utility. While the core metrics have retraced, the users remaining on the network are keeping up significant on-chain engagement, with fee generation aligning closely with transaction trends.

Currently, the market state can be described as being in consolidation mode. If these conditions hold, we anticipate that activity will stabilize at these tighter ranges, forming a solid base that typically precedes a cycle of renewed expansion.