Ethereum addresses rise, pushing ETH back to $3K

recently experienced positive price movements, pushing its price back above the $3,000 mark. Concurrently, the number of addresses surged to levels not seen since 2022.experienced the highest daily new address creation between the 4th and the 5th of May, marking the first occurrence in nearly two years.

The chart showed that the daily new address count was over 196,700, a milestone not seen since the 8th of October 2022.Subsequent analysis of the network growth chart revealed a gradual deceleration in this surge. By the close of trading on the 6th of May, the daily new address count had reduced to around 115,000, further declining to around 33,000 at the time of this writing.It’s plausible that the influx of these new addresses anticipates Ethereum’s potential to retest and surpass that price threshold. The last time there was an influx in Ocober 2022, the ETH price rose months later.daily active addresses has risen since March.

It wasn’t until the 6th of May that the volume surpassed this threshold, going over $12 billion. As of the latest data, the volume was around $13 billion.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.

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