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HomeEthereumEthereum ($ETH) Adds 130,000 Unique Addresses a Day as on-Chain Activity Grows

Ethereum ($ETH) Adds 130,000 Unique Addresses a Day as on-Chain Activity Grows

The Ethereum ($ETH) network is adding around 130,000 new unique addresses per day at a time when on-chain activity for the second largest cryptocurrency by market capitalization continues to grow.

According to Ethereum Blockchain Explorer data etherscan, first spotted According to Finbold, unique addresses on the Ethereum network have grown from 217.6 million at the beginning of the year to about 221.3 million at the time of writing, representing an increase of about 130,000 per day.

On public blockchains like Ethereum, an address is a unique identifier that allows users to send and receive transactions, but it does not represent a single user as users can create multiple addresses for free. Some privacy advocates advise users to create he one address per transaction.

The network has completed a significant upgrade called a merge in September 2022. In this upgrade, the beacon chain was merged with his Ethereum mainnet, moving from a Proof-of-Work consensus algorithm to a Proof-of-Stake algorithm. We are now eyeing another significant upgrade called Shanghai.

The Shanghai upgrade is set to allow network validators who have staked Ethereum on-chain to withdraw their funds with the interest they have collected over time. Staking ETH has been locked on the network since staking deposits were first made available on the Beacon Chain.

As reported by CryptoGlobe, the core of Ethereum is Developers have set March 2023 as a tentative date for ShanghaiThis means that Ethereum stakers may be able to withdraw assets staked on the network immediately.

Especially as Shanghai approaches and the price of Ethereum rises, on-chain data Shark addresses are “actively” accumulating Cryptocurrency.

According to data from on-chain analytics firm Santiment, wallets between $100 and $10,000 in ETH (equivalent to $162,000 to $16.2 million at the time of writing) have been accumulating cryptocurrency since early November, with nearly 3,000 new shark addresses. was created. .

According to the company, there are now a total of 48,556 shark addresses, the highest level since February 2021. It is worth noting that shark addresses are associated with large holders and the largest cohort is known as the whale cohort.

As reported, a recent survey by CoinShares revealed that 60% of the 43 fund managers surveyed (with a total of $390 billion in assets under management) believe that: became. Ethereum has the most promising growth prospects 2023.

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