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Ethereum keeps breaking records in growth

by Lisa Zheng
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Ethereum blockchain has surpassed all its previous records ever since its version 2.0 was launched.

There is an increased interest in Ethereum amongst the crypto traders that are leading to a record-breaking leap in the amount of Ethereum addresses.

Record Number of New Ethereum Addresses in a Single Day

2020 has been an eventful year for Ethereum as the blockchain protocol moved to its Proof of Stake verification after the 2.0 launch resulting in a massive increase in the price of the cryptocurrency. The ETH is now trading around $600. There was a massive increase in the number of Ethereum addresses created in a single day, surpassing the last 35 months record.

On-Chain Analytics company Santiment noted that the gigantic growth of new Ethereum addresses on a single day, which has not happened since January 2018. The firm Tweeted that their network growth metric recorded 177.5 K Ethereum addresses, which is a ‘very promising indicator for bulls’

There was a tremendous amount of 177,520 new addresses created on the Ethereum, surpassing the daily record of almost the last three years. There is a substantial shift to the decentralized finance space in recent times, and as the popularity of ETH grows, the number is expected to grow further.

Decentralized finance has substantially impacted the financial space providing more utility and ease to the users. DeFi markets are on a boom resulting in a higher number of applications and solutions being built across the Decentralized protocols. Smart contracts are used to host the rules which both the participating parties agree on.

DeFi is mainly dependent on the ERC-20 tokens built on Ethereum. Since Decentralized finance has an array of utilities and immense efficiency, it is widely changing the financial ecosystem. In 2020, the Total Value Locked on the Ethereum has grown up to $15 billion. 

Ethereum addresses have reached a substantial number of more than one million unique addresses participating in DeFi solutions.

The launch of Ethereum 2.0 POS staking through the Beacon chain may contribute to the increase in its price with the supply of cryptocurrency being locked in and the circulation is limited.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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