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Ethereum is seeing a significant increase in the number of new users, with on-chain data showing that maintenance has almost doubled in the last month, according to For analytics company Glassnode .
Important points:
- Ethereum is seeing a huge increase in new users, with reserves and new active addresses almost doubling in the last month.
- Daily activity increased significantly as active addresses increased year on year.
- The low fees and high usage of stablecoins drives the growth of the network.
The company said that the large increase in addresses that connect for the first time in the last 30 days shows that new users are entering the Internet, instead of the participants who are running more services.
Glassnode reported that month-to-month (month-to-month) storage has jumped significantly in the latest group of users, showing that new wallets are not only compatible with Ethereum, but continue to use it.
Ethereum network services have doubled as the number of new users has increased
The number of new addresses increased from 4 million to 8 million last month.
Activity tracking monitors whether users remain active over time, and informs whether network growth is stable or driven by short-term spikes.
The data on the network shows a similar speed. In the past year, the number of working addresses on the Ethereum network has doubled, rising from 410,000 to more than 1 million addresses, according to EtherScan data.
Daily sales figures also rose sharply, reaching 2.8 million on Thursday, an increase of nearly 125% from the figure seen last year.
Analysts attribute much of this growth to the rise of stablecoins and lower transaction costs. Milk Road platform, which works in the capital economy, said that this increase reflects the change of Ethereum to move the integration tasks to the secondary network and maintain stability on the main chain.
This design reduces fees while maintaining security, making the network more usable on a day-to-day basis.
Data from the platform Token Terminal shows that the activity of the stablecoin on the Ethereum network has reached an all-time high at the same time that the payment has fallen to a multi-year low.
This combination seems to encourage more frequent use of the network, especially for payments and DeFi services.
Market participants say that positive changes on the blockchain will contribute to the increase in positive sentiment around Ethereum.
The price of Ethereum recently reached a two-month high near $3,400 before returning to $3,300 in early trading on Friday, as traders speculated whether the increase in activity could mean a sustained price move.
Buterin says Ethereum has solved the blockchain trilemma
Buterin said last week that the Ethereum network has solved the blockchain trilemma, passing a major milestone that many in the cryptocurrency world saw as unachievable.
The Ethereum mastermind said that recent and upcoming updates have combined decentralization, security, and scalability through code that runs smoothly in production environments.
At the heart of these insights are two technological developments, including peer-to-peer access models (PeerDAS) and Ethereum virtual machines (zkEVMs).
Meanwhile, Ethereum’s momentum has changed significantly with the exit of validators being suspended and new coins returning to long-term assets, which indicates a significant change in market behavior among major Ethereum owners.
A note Ethereum saw a huge increase in new users as the number of applications more than doubled: Glassnode appeared for the first time Cryptonews Arabic.
