Ethereums network activity sees a turnaround - Heres how
Ethereum Ethereum‘s network activity sees a turnaround – Here’s how Balita ng Ethereum ng Bitcoin Ethereum [ETH] has recovered well since its precipitous fall on the 22nd of January, which saw the second-largest asset lose 10% of its value. The second-largest asset clocked a steady growth of 4.74% over the past week, AMBCrypto spotted using CoinMarketCap data. During the uptrend, ETH also scaled up to $2,380. However, profit-taking by weak hands pulled ETH lower to $2,339 at the time of writing. Pinagmulan: CoinMarketCap Ethereum sees high network utilization The price gains came alongside sharp growth in on-chain activity. According to on-chain analytics firm Santiment, 484K unique addresses interacted with the network on average in the last week. The network growth was also promising. About 101K new addresses were getting created on the network each day. In fact, the daily rate of new address creation was 28% faster than what it was three months ago. Pinagmulan: Santiment Another important marker of strong network activity — the number of transactions — spiked 10% over the week. Analyzing these metrics, it became clear that ETHs growing market cap was built on the foundations of increasing network utility. Pinagmulan: Santiment A bullish signal for ETH in the long term? Over the years, a lot of criticism has been directed