Ethereum Active Addresses Hit a 5-Month High. What’s Driving It?
- Ethereum logged 989,500 active addresses in 24h, a peak since March.
- Santiment reports a surge in active wallets while ETH stays near $1,870.
- Robinhood Chain expansion fuels higher gas usage and app interactions.
Ethereum logged 989,500 active addresses in 24 hours, its highest count since early March. The rapid growth in active addresses shows that daily usage of the settlement layer is increasing rapidly in the Ethereum network.
Hence, analysts in the crypto market are keenly watching for the effects of this liquidity injection on the broader market today.
On-Chain Data Signals Surge in Ethereum Active Addresses
Santiment indicates that Ethereum has seen a surge in wallet activity as the ETH price has been steady around $1,870. On-chain metrics gauge active network participation by counting the number of wallet interactions on the chain for a given time period. In addition, it is important to consider the daily transactions on the primary execution ledger as a glimpse of basic protocol functionality.
… Continue reading the full article at the original source below.
