135,000 new addresses on the Ethereum network!

ethereum date merge

Despite a red market, Ethereum continues to grow. The number of addresses added to the network in the blockchain has increased significantly. Good tribute to the future!

Spike in the number of addresses created

On October 8, these are 135,780 ETH addresses added to the network. This figure shows a highest since December 7, 2021at the peak of the bull market, according to data from specialist company Santiment.

This figure shows the vitality and interest always in the presence of users and developers for the Ethereum network. Since The Merge, and the move from proof of work to proof of proof, Ethereum has been under the watchful eye of many observers. If the regulatory restrictions are met getting heavier for the network, this figure is enough to make the supporters of the blockchain created by Vitalik Buterin smile.

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An upcoming rise for Ether?

The last few weeks have been confrontational for Ether course. In the past month, Ether has indeed it went from $1800 to around $1300 at the time of writing these lines. After the Merger, we saw a huge sell-off that led to a scale correction for the asset.

However, this indicator in the green could return bullish momentum to the asset. The number of new addresses added to the Ethereum network just hit an All Time High on October 10, according to data from Glassnode. It is also noted that the number of addresses containing more than one Ether is increased. These data suggest that most wallets are turning to Ethereum.

135,000 new addresses on the Ethereum network!

The number of addresses with more than one Ether on the network is increasing (source: glassnode)

However, despite this renewed interest, no significant increase in transactions on the network. For several months now, this figure has been steadily decreasing. The total number of transactions on the network has just been reached the lowest in 21 months. It has crossed the 7 day moving average.

After the Merger, social activity regarding Ethereum also dropped. We noticed 8.46 mentions of Ethereum on various social media on October 6th. After all the excitement and communication throughout the Merger, it only makes sense look at the attention dropped a notch regarding Ethereum.

Increased interest from institutional players

These data therefore show that there is a strong renewed interest in Ethereum by investors, especially the wealthiest people. Recent positive news from many institutional actors.

The most important among them is the creation of a Ethereum Index Fund by Fidelity Investments. This multinational is one of them third party asset management giants. She manages more than 4 trillion dollars in assets. If this company has already approved to invest in Bitcoin, it is the first for Ethereum.

It has just made a deposit with the American regulator, the SEC, to launch this new fund. With this new index fund dedicated to the second largest market capitalization it is possible to invest in securities that value of $50,000 each. It is therefore aimed at a large wallet. The latter have obviously been interested ever since more than 5 million dollars of titles have already been sold.

For his part, Deutsch Telekom launches into Ethereum staking. Germany’s leading telephone operator has just announced that it has its own betting pool in partnership with Ethereum StakeWise, an Ethereum betting platform.

Therefore, the company gives its customers an opportunity to benefit from an offer Ethereum liquid stacking. It is thanks to Merge that Deustch Telekom decided to launch this new offer. In fact, the operator was waiting for the change in the consensus mechanism and improve energy performance before taking on Ethereum.

These two examples show the growing interest of institutional players for Ethereum. After Bitcoin, Ethereum is the blockchain that most attracts the giants of the traditional economy. We will follow closely in the coming months the possible arrival of new companies on the Ethereum network.

To learn more about Bitcoin and its next bull run, find our article here.

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