Ethereum Wallets Experience Astonishing Activity Surge
- Ethereum has recorded a second-all-time high in transactions.
- Experts predict a bullish phase for the network.
- The price of Ether has experienced a slight increase.
Recent months have witnessed a highly bearish run for digital assets, including Ethereum (ETH).
Amid its ongoing recovery from the rather turbulent phase, the Ethereum network may be experiencing the precursor to a bullish price reversal after recording over one million transactions in a single day.
Unprecedented Network Activity
The network witnessed an extraordinary surge in activity on September 13th, marking the second-highest level in its eight-year history.
According to the market intelligence platform Santiment, 1,089,893 unique wallets participated in Ethereum (ETH) network transactions as senders or recipients. This figure indicates a 150-200% increase from the network’s typical previous record of 300,000 to 450,000 wallets. Of the transactions, 640,000 Ether (ETH) were recorded as withdrawals from centralized exchange users.
Despite the recent spike in activity, the overall net activity on the Ethereum (ETH) network remains relatively subdued, decelerating the Ethereum Improvement Proposal (EIP) 1559-enabled token-burn process.
Ethereum (ETH) is trading at $1,619 on major spot platforms, reflecting a 1.3% increase over the last 24 hours.
Infamous 3AC founders banned in Singapore. Read more:
Three Arrows Capital Founders Handed A Hefty Ban In Singapore
XRP asserts its stance as a global altcoin. Read more:
XRP Seizes Third Spot In Global Crypto Search In 2023
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
NFT project Rekt Drinks parent company Rekt completes $1.5 million seed round financing
Fed mouthpiece: The Fed is expected to keep interest rates slightly above neutral in the future
Peanut the Squirrel (PNUT): Honouring Memories And Uniting A Community
What is Peanut the Squirrel (PNUT)? Peanut the Squirrel (PNUT) is a memecoin launched on the Solana blockchain, born from an unexpected and heartbreaking real-world event that resonated across social media. Inspired by the story of Pnuts, a beloved pet squirrel, and his companion, Fred, who brought
Wintermute received 267 million MANEKI 19 hours ago, accounting for 3% of the total token supply