Adoption of the Ethereum network is at an unprecedented level. In just one day, more than 447,000 new holders joined the blockchain. A record that marks a major turning point for the crypto market! Above all, enough to restore confidence to investors.
In brief
- Ethereum records 447,000 new holders in 24 hours, a historic record for 7 years.
- Bullish breakout in Ethereum price reignites trust and adoption of the blockchain network.
Ethereum reaches a historic milestone on the blockchain
THE Ethereum network just broke a seven-year-old record. In just 24 hours, 447,000 new wallets were created. This figure far exceeds the previous mark of 351,000 active addresses. According to Glassnodethe daily average of wallet openings now exceeds 300,000 addresses.
Onchain activity also shows an increase in transactions. Which testifies to a actual usage of the Ethereum network. Investors therefore seem to be returning to ETH as decentralization strengthens and trust in the blockchain consolidates.
According to many crypto analysts, the rise of active addresses underlines the vitality of the protocol as well as its central role in the decentralized ecosystem.
Ethereum price frees up after two months of blockage
Ethereum has finally broken the resistance that had limited its evolution for almost two months. The price of the ETH token is now around $3,317, above the key support of $3,287. This technical analysis confirms the exit from a bullish triangle, paving the way for an estimated target of $4,240. This represents an upside potential of 29%.
Short-term holders, still in losses, are reducing selling pressure. The STH-NUPL indicator remains in the capitulation zone. This limits sales and promotes price progression. This situation supports the thesis of a lasting bullish rallyreinforced by the arrival of new investors.
With this adoption record, Ethereum asserts itself (in any case!) more than ever as the pillar of DeFi. If the trend continues, the network could well begin a new phase of growth and consolidate its place at the top of the crypto market. To be continued…
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