Ethereum network explodes to 4-month high
Following a period of underperformance for Ethereum (ETH) compared to the wider cryptocurrency market, its network has just experienced an unexpected jump in the growth of crypto wallets, the highest in the last four months, and on a Sunday, which is typically the least active of the week. Specifically, on September 8, 126,210 new crypto wallets appeared on the Ethereum network, marking the highest single day of growth activity since May 5 this year, according to the observations shared by blockchain and social metrics platform Santiment in an X post on September 9. Ethereum network growth and price performance analysis. Source: Santiment Ethereum bulls vs. bears As the Santiment team highlighted, such a massive rise in the network growth in a single day could lead to a price increase of its token, explaining that it was “indicative of rising network utility and anticipated price bounces from the $2,200 – $2,300 level.” ...