As Ethereum attempts to reclaim first crucial levels after dramatic collapse, its on-chain metrics print new highs
Although the Ethereum (ETH) price is still down 75% from its all-time high recorded on November 10, 2021, one of its on-chain metrics has reached record 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.
According to Glassnode, the leading on-chain analytics 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.
This indicator has only stopped rising once in Ethereum’s history: the net number of non-zero addresses fell after the May 2021 highs in the price of Ether (ETH).
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 should arrive in Goerli – the last testnet before the mainnet is activated.
Ethereum (ETH) is changing hands at $1,218 on major spot trading platforms, up 1.2% in the last 24 hours.
