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- Ethereum recently experienced a surge in new addresses, coinciding with a positive price movement that pushed its value back above the $3,000 mark.
- Despite the influx of new addresses, the number of active addresses on the network has not shown a significant increase.
- Meanwhile, Ethereum’s trading volume has climbed over $13 billion, indicating a healthy level of activity on the network.
Ethereum’s new addresses surge, pushing its value back above $3,000. However, the increase in new addresses has not significantly impacted the number of active addresses on the network. Meanwhile, Ethereum’s trading volume has climbed over $13 billion.
Ethereum New Addresses Surge
Ethereum recently saw a significant increase in new addresses, with close to 350 new addresses created in the last three days. This surge coincided with a positive price movement that pushed Ethereum’s value back above the $3,000 mark. According to data from Santiment, this is the highest daily new address creation Ethereum has experienced since October 2022.
Impact on Active Addresses
Despite the influx of new addresses, the number of active addresses on the Ethereum network has not shown a significant increase. The count of daily active addresses has consistently remained above 500,000, occasionally dipping below this threshold. As of the time of writing, the count was around 160,000. This suggests that while new addresses are being created, they are not yet significantly contributing to the activity on the network.
Ethereum Trading Volume Climbs
Meanwhile, Ethereum’s trading volume has shown a healthy increase. The volume has climbed over $13 billion, indicating a high level of activity on the network. However, the influx of new addresses did not lead to any significant changes in trading activity. Even on the day of the spike in new addresses, the volume remained below $10 billion. It wasn’t until the 6th of May that the volume surpassed this threshold, going over $12 billion.
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Conclusion
In conclusion, while Ethereum has seen a surge in new addresses, this has not significantly impacted the number of active addresses on the network. However, the network’s trading volume has shown a healthy increase, indicating a high level of activity. It remains to be seen how these new addresses will contribute to the network’s activity in the future.
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