Ethereum is the second largest crypto in the world after Bitcoin. Ethereum owes its current success in part to its ecosystem, which is the main driver of the development of decentralized finance (DeFi). Will the Ethereum boom continue? The signals all seem to be green…
Ethereum has broken a new record. What is it? On Sunday, May 9, 2021, the number of Ethereum addresses rose to 7.94 million! The last record dating from January 16, 2018 with 7.14 million addresses has therefore just been broken! Even more amazing is the fact that more than 100,000 Ethereum addresses have been created over the last three days. In total, since the beginning of 2021, ETH addresses are growing by 86%!
As a reminder, in crypto, an address is comparable to the IBAN of a traditional bank account. In practical terms, an ETH address is used to receive or send Ethereum. Such a dynamic in the creation of ETH addresses therefore show the craze generated by this crypto. Seduced by the ambitions and performance of Ethereum, more and more users are turning to this future crypto. This can only support the current momentum of its price.
Ethereum’s price has exploded by more than 2,350% since the beginning of 2020. Currently, Ethereum is trading above $4,100 which is a new all-time high.
Since the beginning of 2021, the Ethereum blockchain has been experiencing issues with fees and congestion. Although solutions are being developed, these problems could have been prohibitive for Ethereum. However, the explosion of ETH addresses show that this has not kept users from flocking to Vitalik Buterin’s crypto. For the CEO of Nansen, a blockchain company, this is a “real sign of organic growth”.
The growing popularity of Ethereum is also reflected in Google searches. Indeed, for the first time, the number of Internet searches on Ethereum have surpassed those on Bitcoin!
“As interest on Google Search increases, so will active ETH addresses, which will put upward pressure on prices. ” Arash Ghaemi, strategic director at Two Prime Digital Assets