Wednesday, May 5, 2021

Ethereum Active Addresses Hit All-Time High, Number of ETH Unique Addresses on Steady Increase

Despite the current situation of cryptocurrencies in the market, the number of new Ethereum (ETH) addresses has not ceased increasing.

According to the data provided by a crypto analytics firm, CoinMetrics, the number of Ethereum addresses recently hit an all-time high of 771,000.

Going by the report, the recent record has now surpassed the previous records set in November 2020 and January 2018.

Read Also: Ethereum Developer Shows That the Benefits of EIP-1559 and PoS Are Yet To Price into ETH

CoinMetrics tweeted, “This week, Ethereum active addresses hit an all-time high of 771k, surpassing the previous records set in November, 2020 (739k) and January, 2018 (735k).”

Read Also: Weiss Ratings: Everyone, Including XRP, Wants To Connect To Ethereum (ETH)

Number of Ethereum (ETH) Unique Addresses On a Steady Increase

There has been a high network activity on the Ethereum blockchain, which is the result of the steady increase in the number of unique addresses.

According to the leading Blockchain explorer, search, API, and analytics platform for Ethereum, EtherScan.io, the Ethereum network currently has over 148 million unique addresses.

The blockchain analytics firm illustrated the steady increase via a chart provided. According to the chart, the growth and the use of the Ethereum network have been steady since the inception of the leading smart contract platform.

Ethereum Active Addresses Hit All-Time High, Number of ETH Unique Addresses on Steady Increase

Additionally, the steady increase in network activity on the Ethereum network is a major reason to remain bullish on the price of the digital token ADA. It’s worth noting that the necessary metrics around Ethereum keep increasing, despite the high gas fees on the network initiated by congestion.

However, the Ethereum Improvement Proposal (EIP) 1559 is coming to proffer solution to the issue with high gas fees plaguing the network. The implementation of EIP-1559 is estimated to play out along with the London upgrade in July 2021.

Read Also: Last Quarter, Ethereum Settled $1.5 Trillion While PayPal Settled $936 Billion Throughout 2020

Meanwhile, Ethereum (ETH) is still struggling to sustain its balance following the significant price dip that affected virtually all cryptocurrencies in the market, including Bitcoin (BTC).

At the time of filing this report, ETH is trading at $2,189.77, with a 3.23% price downtrend in the last 24 hours.


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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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