Ethereum appears to be sustaining its 2021 good points by sustaining a major number of new unique addresses created on the network.
The highest number of addresses was recorded on June 5th at 332,094 amid the cryptocurrency market bull run.
Moreover, within the first two weeks of September, a total of 1,389,999 new unique addresses have been created.
Overall, since the inception of the Ethereum network, a complete of 169,296,775 new unique addresses have been created. Notably, the significance of the network’s 2021 momentum is highlighted by the fact that as of September 2021, 38,256,193 new Ethereum addresses have been created in 2021, accounting for 22.59% of all ETH addresses so far.
Growing interest in Ethereum network
The use case has positioned Ethereum at a vantage level, with more users aiming to get a share of the asset with a concentrate on future value good points.
Moreover, the variety of Ethereum’s unique addresses is complemented by the numerous variety of daily active addresses, a metric that’s inserting Ethereum as a formidable replacement for Bitcoin.
In July, Ethereum, at one point, saw its daily active addresses surpass Bitcoin, highlighting the demand in the second-ranked crypto.
It’s value noting that the number of new Ethereum addresses additionally plunged, correlating with the correction of the whole cryptocurrency market. In addition to the crypto market correction, the determine was probably impacted by the continued network upgrades.
Impact of network upgrades
In August, Ethereum carried out the London upgrade that introduced the deflationary system. In the future, the Ethereum network improve is expected to create deflation as it modifies the public sale course of.
On the identical time, with Ethereum transferring in direction of the proof-of-stake protocol, the community will probably expertise an inflow of recent customers who need to money in on the staking. Notably, the staking industry is projected to be a major hit within the crypto circles, and Ethereum is already positioned to learn.