As Ethereum attempts to reclaim first crucial levels after dramatic collapse, its on-chain metrics print new highs
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Although the Ethereum (ETH) price is still 75% down from its all-time high registered on November 10, 2021, one of its on-chain metrics spiked to record-breaking highs.
Number of non-zero wallets on Ethereum (ETH) sets new record over 83 million
Ethereum (ETH), the most popular smart contracts network and second largest blockchain, sees one of its most crucial metrics breaking a new record.
📈 #Ethereum $ETH Number of Non-Zero Addresses just reached an ATH of 83,662,470
View metric:https://t.co/beS1MtIgAZ pic.twitter.com/jgMy3t4HbO
— glassnode alerts (@glassnodealerts) July 9, 2022
According to Glassnode, the leading on-chain analysis service, today, July 9, 2022, over 83,662,470 wallets on the Ethereum (ETH) blockchain have non-zero balances.
Typically, this network surges over time hand in hand with DeFi and dApps adoption. Not only retail users’ wallets, but also automatically created addresses used in DeFis, are registered on this metric.
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This indicator ceased to surge only once in Ethereum’s history: the net number of non-zero addresses reduced after the May 2021 highs of the Ether (ETH) price.
Ethereum (ETH) is ready to activate The Merge in latest testnet; what’s next?
Meanwhile, Ethereum (ETH) inches closer to its most crucial milestones in years, The Merge. This upgrade is set to move Ethereum (ETH) blockchain from a Proof-of-Work consensus to a Proof-of-Stake one.
On July 7, 2022, The Merge was activated in Sepolia, the new Ethereum (ETH) testnet. In the coming weeks, The Merge is expeced to come to Goerli – the last testing network before mainnet activation.
Ethereum (ETH) is changing hands at $1,218 on major spot trading platforms, up 1.2% in the last 24 hours.