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Active ETH addresses reach all-time high of 1.4M

  • December 14, 2022
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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Glassnode data analyzed by CryptoSlate revealed that the number of active Ethereum (ETH) addresses reached a new all-time high (ATH) on Dec.9.
Active ETH addresses
Active ETH addresses
The blue line on the chart above represents the active ETH addresses since January 2018. On Dec. 9, the number of active addresses spiked to reach 1.4 million. The previous ATH before this was recorded at the end of July at just above 1 million.

Breakdown

Looking at specific transaction types on Dec. 9, CryptoSlate analysts revealed huge movements in stablecoins and ERC20 transactions.

ERC20

This category includes all transactions that initiate ERC20 contracts, excluding the contracts in the Stablecoins category. The chart below represents the volume of these transactions with the purple areas.

ETH addresses ERC20 transactions
ETH addresses ERC20 transactions

The data demonstrate a visible spike in the number of ERC20 transactions on Dec.9, which marks a new ATH for the category. The previous ATH level was recorded in early August at just above 20%.

Stablecoins

The term stablecoins refer to fungible tokens that have their value pegged to an off-chain asset, either by the issuer or by an algorithm. This category includes over 150 stablecoins, with Tether (USDT), USD Coin (USDC), Terra Classic (UST), Binance USD (BUSD), and DAI (DAI) being the most prominent ones.

ETH addresses stablecoin transactions
ETH addresses stablecoin transactions
The chart above reflects the size of stablecoin transactions to and from ETH addresses. Although it didn’t record a new ATH, the number of stablecoin transactions spiked on the given date. The ATH for this category was recorded in the second half of May.

Other transactions

This category includes all other transactions on the ETH network that are not included in either of the categories above.

The chart below visualizes the number of other transactions with the pink areas since the beginning of the year.

ETH addresses other transactions
ETH addresses other transactions

After a significant fall in mid-October, the volume of this category started to increase steadily with some volatility. The volume of this category also recorded a new ATH in early December at just above 52%.

The post Active ETH addresses reach all-time high of 1.4M appeared first on CryptoSlate.

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