Ethereum Sees Unexpected Boom: Activity Doubles, Hits Record

Ethereum Sees Unexpected Boom: Activity Doubles, Hits Record

The Ethereum network is experiencing a significant increase in activity, breaking records and indicating that there is growing interest in the blockchain ecosystem. According to analysis by Glassnode, the number of active addresses interacting with the network for the first time has almost doubled in the past month to around 8 million. The jump shows that new wallets are joining Ethereum in droves, and not just existing users renewing their activity.

Daily transactions have climbed to an all-time high of 2.8 million, a 125% increase from last year. This growth is mainly due to the explosion of stablecoin usage, which is now at the highest levels in Ethereum’s history, while at the same time reducing gas fees thanks to scaling solutions at Layer 2.

Confidence in ETH is growing, also due to improving market sentiment. Experts warn that growing activity and stable fundamentals signal that Ethereum is on the verge of a major breakthrough. Institutional investor interest, increased ETF usage, and the rise of native protocols are solidifying Ethereum’s position as a key blockchain for decentralized finance.

“Ethereum is showing significant growth potential right now,” says analyst Nick Ruck. “The growing number of addresses, high transaction volume, and improved scaling suggest that we are approaching a significant inflection point.”

ETH recently hit a two-month high of $3,400, confirming the positive sentiment in the market. All agree that activity and confidence in Ethereum are on the rise and could lead to further growth in the coming weeks.

*This is not an investment recommendation.

The Coingarage Team