- Ethereum’s active addresses and new addresses spiked in the last 24 hours.
- ETH maintained the $2,000 price range despite its decline.
Of late, Ethereum [ETH] has faced challenges in sustaining its price at the $2,000 mark. But over the last 24 hours, a specific on-chain metric has shown increased activity, signaling a rise in interest.
Activity in Ethereum’s 24-hour address
According to a recent report by Santiment, Ethereum has experienced an increase in its 24-hour active addresses. This marked the second occurrence of such a trend within the same month.
The chart revealed that around the 10th of November, the 24-hour active addresses peaked at nearly 460,000. As of this writing, the figure was around 444,000.
Before these upswings, the last notable activity was observed around September, with over 1 million active addresses recorded.
Source: Santiment
New addresses spike to the highest level in months
An in-depth examination showed that not only active addresses were increasing. AMBCrypto’s analysis showed a significant rise in new addresses on the Ethereum network.
As of this writing, the chart on Glassnode showed that more than 94,000 new addresses have been added to the network.
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Author: Adewale Olarinde
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