Ethereum’s active addresses second-highest in history: Analysts

cointelegraph.com:

Through an examination of Ether’s (ETH) on-chain activity, market intelligence platform Santiment has published a report indicating that the count of daily active Ether addresses experienced a notable increase, reaching around 1,089,893 on Sept. 13.

This recent upsurge represents the second-highest number of daily active addresses ever recorded in Ethereum’s history. The highest count was registered on Dec. 9, 2022, aligning with Ether’s reevaluation following its losses from the post-2021 bear market.

As a result, analysts at Santiment suggest that the Ether market may experience increased volatility, potentially leading to a recovery. Additionally, this uptick in on-chain activity indicates a growing demand for the underlying asset.

The #Ethereum network just saw 1,089,893 unique wallets acting as a sender or receiver of $ETH on Wednesday, the 2nd highest amount in the asset's 8+ year history. This historic anomaly could be the capitulation signal needed for prices to rebound. https://t.co/JF0g8vvBWs pic.twitter.com/1dRnPCjxcA

Ethereum, whose native crypto, ETH, is the second-largest by market capitalization, is presently encountering immediate market instability after a recent price decline that pushed it below the $1,700 threshold. Nevertheless, Ethereum maintains its position in the decentralized finance ecosystem and smart contract arena, securing around $20 billion in total value locked.

Ethereum remains attractive to institutional investors, as seen in the growing interest in spot exchange-traded funds. Additionally, the Ethereum network holds a central role in numerous blockchains due to its Ethereum Virtual Machine network. As a result, Ethereum’s prospects seem largely optimistic, supported by the network’s