Ethereum is growing by almost 100,000 new addresses every day

Ethereum (ETH), like the rest of the market, had a difficult year in 2022. In 2023, it did not recover as strongly as some competitors, but that could follow.

It appears that the network is now growing rapidly again. PAlmost 100,000 new addresses are added to the network every day.

The Ethereum blockchain is growing rapidly

Out of on chain Data from Etherscan shows that the network has received an average of 95,570 new unique addresses per day since the beginning of this year. The daily increases occur gradually, so that around 96,145 new addresses were added on February 6th.

The number of new unique addresses is important because it provides a rough estimate of how quickly the network is growing. However, it is not 100% accurate as you can create multiple ETH addresses for yourself.

The number of unique addresses is therefore not the same as the number of unique users, which is a different measure. This is difficult to measure on blockchains in general, but we can measure the daily number of active addresses.

Since 2018, the number of daily active Ethereum addresses has experienced significant fluctuations, ranging from high activity during the peak periods of the bull market to significantly lower activity during the off-peak periods in early 2020.

In 2021 and in subsequent years, the benchmark reached new records, but only temporarily at these levels. The activity of addresses with ERC-20 tokens is improving. Apart from a few large peaks, this value is once again at the upper limit of what has been achieved so far.

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Ethereum source of good news in 2024

This is not the first time that Ethereum has delivered good news this year. That’s how it is strike ETH is more popular than ever.

It is also positive that investors have massively withdrawn their Ether from crypto exchanges in the past month. This suggests that these investors are not willing to sell their coins or use them on the blockchain.

At the same time, the network has some big problems to solve. For example, Ethereum inventor Vitalik Buterin believes that scalability issues, as well as centralization within ETH, are increasing rapidlyStrikers would be a problem.

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