Main navigation

Ethereum Network Sees Over 600,000 Unique ETH Addresses in Active Transactions

Tue, 26/07/2022 - 13:30
Ethereum Network Sees Over 600,000 Unique ETH Addresses in Active Transactions
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to crypto analyst Ali Martinez, the number of unique ETH addresses that are active on the Ethereum network either as senders or receivers is increasing. He adds that on July 25, Ethereum recorded more than 600,000 active addresses, per Glassnode data.


In the past day, 604,888 unique addresses were active on the network, according to the Glassnode Ethereum Active Address chart posted alongside the tweet. Growing daily active addresses indicate increased blockchain usage, which might be an effective way to monitor network activity over time.

As a result, this particular metric is often a leading indicator of price action, as increased network utilization may increase demand for the native token of the blockchain. The most recent network utilization has not yet been reflected in ETH's price, which has been most impacted by the current market sell-off.

At the time of publication, ETH was trading at $1,392, down 9.22% in the last 24 hours. Ethereum also gave up its weekly gains, falling 10.70% over the past week.

Amid the price drop, Ethereum tracked futures had $104 million in liquidations over the last 24 hours.

Ethereum investment products record inflows

Recent data from Coinshares shows that Ethereum received $8 million in inflows last week, but the corrected higher weekly data shows that Ethereum received $120 million in inflows. Since June 2021, this past week's inflows were the highest single-week total. This could also signify a shift in mood following a recent 11-week stretch of outflows. It also shows that investor confidence is gradually increasing as the Merge update nears completion.

In general, investments in digital asset products witnessed inflows of $30 million last week. However, due to late reporting of trades from the prior week, inflows were adjusted from $12 million to $343 million, making it the greatest single week of inflows since November 2021, Coinshares noted.


Latest Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards
ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Our social media
There's a lot to see there, too

Popular articles