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Active Ethereum Addresses Hit New High of 771K Amid New ATH

Active-Ethereum-addresses-surged-to-a-new-high-of-771k
  • Active Ethereum addresses have reached a new all-time high.
  • The network activities’ new high comes in the same week as ETH hit a new ATH.
  • The total value locked on all Ethereum-based DeFi platforms reached over $54 billion.

The number of active Ethereum (ETH) addresses reached a new all-time high of 771,000. This surpassed previous highs of 739,000 in November 2020 and 735,000 in January 2018.

Interestingly, the network activities’ new high came in the same week as ETH hit a new all-time high of about $2,640. According to CoinGecko, ETH price is $2,204 with a 24-hour trading volume of $32.517 billion, at the time of writing.

As such, the high network activity led to a higher total number of unique addresses. Specifically, there are currently more than 148.8 million unique wallet addresses on the Ethereum blockchain, as per Etherscan.

Ethereum Unique Address Chart (Source: Etherscan)
Ethereum Unique Address Chart (Source: Etherscan)

The Ethereum blockchain has found a lot of activity in the past few months. For instance, the network settled $1.5 trillion in transactions in the first quarter of 2021. Furthermore, the total value locked on all Ethereum-based DeFi platforms reached over $54 billion.

Notably, crypto investors are bullish over the future of ETH despite its current high gas fees. After the Berlin hard fork, many people are awaiting the London upgrade implementation, which includes the EIP-1559.

Recently, Weiss Crypto stated in a tweet that there are currently no ETH killers, nor will there be any for some time. In another tweet, the firm mentioned that the other projects trying to compete against Ethereum are non-contenders. What is more, the firm claims that the only hope that these competitors have is to become a sidechain of Ethereum.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.