New Ethereum Addresses Hit 200K: What’s Behind The Massive Spike?
Ethereum adoption is soaring, with the network just passing a critical milestone that has analysts forecasting a price recovery. Related Reading: Bitcoin Sudden Breakdown: Price Falls Below $100,000 Support On January 24th and 25th, Ethereum experienced a rise in daily active addresses, exceeding 200,000—a number not seen since October 2022. This huge increase reflects the network’s increased engagement and importance in decentralized finance (DeFi) and non-fungible tokens (NFT), Glassnode data shows. Ethereum Network Activity And User Engagement The increase in daily active....
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According to on-chain data, around 200k ETH entered exchanges yesterday, a sign that Ethereum might face more downside soon. Central Exchanges Observe Inflow Of 200k ETH As pointed out by a CryptoQuant post, more than 200k ETH entered exchange wallets yesterday. At the current rate, this amount is worth about $839 million. The relevant on-chain indicator here is the Ethereum netflow, which shows the net amount of the crypto entering or exiting central exchanges. Its value is calculated by taking the difference between the inflows and the outflows. When the metric has negative values, it....
The sudden dramatic spike in active addresses on the network has left many guessing about the cause. On-chain metrics firm Santiment says it is still investigating the cause of a sudden surge of Ether (ETH) active addresses, which have eclipsed the previous all-time high (ATH) by a whopping 48%On Wednesday, the analytics firm tweeted that the number of daily active addresses on Ethereum had suddenly spiked to 1.06 million, shattering the previous high of 718,000 set back in 2018.An active address is one that has made a transaction in the past 24 hours. The number of active addresses can....
On-chain data shows a large amount of new addresses have popped up on the Ethereum network recently, a sign that ETH adoption is occurring. Ethereum Network Growth Registered A Sharp Spike Recently In a new post on X, the on-chain analytics firm Santiment has discussed about the latest trend in the Network Growth for Ethereum. […]
Tron, a platform where users can deploy smart contracts and run decentralized applications (dapps) like they would in Ethereum, is rapidly growing its daily active addresses (DAA). DAA is the count of unique addresses that send or receive tokens on a blockchain on any given day. Tron’s DAA Exploding, Surpasses Ethereum, Bitcoin According to metrics shared […]
The Ethereum Merge upgrade is expected to haul in more new users on the network which happens to be true with the surge of new active wallet addresses on the platform. Ethereum’s new active wallet addresses climb to a new ATH of 3,001.804 ETH seen to spike in terms of social media engagements and mentions ETH price up by 0.46% as of press time According to a Twitter post by Glassnode shared on October 2, the number of new active wallet addresses on the Ethereum network recently climbed to a new ATH of 3,001.804. While it’s true that this screams a boost in investor interest in the alt,....