{"id":32424,"date":"2022-07-28T03:08:00","date_gmt":"2022-07-28T07:08:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=32424"},"modified":"2022-07-28T03:08:03","modified_gmt":"2022-07-28T07:08:03","slug":"experts-yet-to-explain-surge-in-eth-active-addresses","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/experts-yet-to-explain-surge-in-eth-active-addresses\/","title":{"rendered":"Experts yet to explain surge in ETH active addresses"},"content":{"rendered":"\n
Many people have made assumptions regarding the origin of the abrupt, jarring increase of active addresses on the network.<\/h5>\n\n\n\n
\"Experts
Experts yet to explain surge in ETH active addresses<\/figcaption><\/figure>\n\n\n\n

Santiment, an on-chain measurement company, said it is still looking into what caused the unexpected rise of ETH active addresses<\/a>, which has outpaced the previous ATH by a staggering 48 percent.<\/p>\n\n\n\n

The analytics company tweeted on July 27 that there were suddenly 1.06 million daily active addresses on Ethereum, smashing the previous record of 718,000 established back in 2018.<\/p>\n\n\n\n

An active address\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is one that has recently completed a transaction. The amount of on-chain activity from developers and companies updating their software or platforms, as well as traders making straightforward token transactions, may be gauged by the number of active addresses.<\/p>\n\n\n\n

Santiment claims that its staff is still looking into what caused the rise, nevertheless.<\/p>\n\n\n\n

\n

\ud83d\udcc8 #Ethereum<\/use><\/svg><\/span><\/a> shattered records Tuesday after an incredible surge in address activity broke its #AllTimeHigh<\/use><\/svg><\/span><\/a> by a wide margin. 1.06M $ETH<\/use><\/svg><\/span><\/a> addresses made transactions, & the team is still investigating the cause of the +48% increase over the previous record. https:\/\/t.co\/fRLNXkx0PR<\/use><\/svg><\/span><\/a> pic.twitter.com\/oXhGvCTJef<\/use><\/svg><\/span><\/a><\/p>— Santiment (@santimentfeed) July 27, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Conor Grogan, the head of strategy at Coinbase, stated on Twitter that increased activity is not due to increasing adoption but rather a high number of token transfers per unit of gas.<\/p>\n\n\n\n

In contrast to increased “productive” activity from decentralized finance (DeFi) <\/a>and nonfungible token, he said that the rise in active addresses is the result of an increase in “mundane” send\/receive activity, such as “Binance running a maintenance sweep” (NFT).<\/p>\n\n\n\n

\n

Ethereum reached an all time high in "daily active addresses" today.

Counter-intuitively, I don't think this means that Ethereum has greater adoption than any previous time period. It means that send and receive addresses per unit of gas was at highs. pic.twitter.com\/fjQbfdo0tb<\/use><\/svg><\/span><\/a><\/p>— Conor (@jconorgrogan) July 28, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

According to Santiment statistics, the addresses have been rising from their two-year low point of 364,400 on June 26 with a noteworthy minor rise up to 583,000 on July 16.<\/p>\n\n\n\n

The Tether (USDT) daily active addresses measure has also experienced a big increase over the previous two days, from July 26 to 27, which may support Grogan's findings that more activity is coming through straightforward token transfers.<\/p>\n\n\n\n

\n

\ud83d\udce2\ud83d\udce2\ud83d\udce2 Goerli\/Prater Merge Announcement \ud83d\udce2 \ud83d\udce2\ud83d\udce2

Prater will run through the Bellatrix upgrade on August 4th, and merge with Goerli between August 6-12th: if you run a node or validator, this is your last chance to go through the process before mainnet \ud83d\udea8https:\/\/t.co\/JAz5AJe12B<\/use><\/svg><\/span><\/a><\/p>— timbeiko.eth (@TimBeiko) July 27, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

According to a blog post from the Ethereum team on July 27, the Goerli and Prater testnets for Ethereum are anticipated to combine into a single Goerli testnet between August 6 and 12. On September 19, the Ethereum mainnet<\/a> is anticipated to migrate into its own merging.<\/p>\n\n\n\n

Following the surge in activity, Ether (ETH) had a 15.5 percent pump over the course of the previous day, rising from $1,425 to $1,648.<\/p>\n","protected":false},"excerpt":{"rendered":"

Many people have made assumptions regarding the origin of the abrupt, jarring increase of active addresses on the network. Santiment, an on-chain measurement company, said it is still looking into what caused the unexpected rise of ETH active addresses, which has outpaced the previous ATH by a staggering 48 percent. The analytics company tweeted on […]<\/p>\n","protected":false},"author":38,"featured_media":32428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[10989,153],"class_list":["post-32424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-active-addresses","tag-eth"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/indians-follow-ethereum-to-stratosphere.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=32424"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/32428"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=32424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=32424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=32424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}