Ethereum Network Activity Spikes: A Closer Look

Ethereum’s network activity sees a turnaround: Here’s how

Ethereum has experienced a surge in network utilization, coinciding with the recent price gains. On-chain analytics firm Santiment reports that an average of 484,000 unique addresses interacted with the network in the last week. Furthermore, the network saw significant growth, with 101,000 new addresses being created daily — a 28% increase compared to three months ago. The number of transactions also spiked by 10% over the week. These metrics indicate that Ethereum’s growing market capitalization is based on its increasing network utility.