Ethereum's network has seen a substantial increase in activity with the addition of 130,000 new wallets daily. This surge emphasizes renewed interest in the blockchain, paving the way for potential market growth.
Significant Increase in Network Activity
December witnessed the highest level of new wallet creation seen in eight months. The increase in trading volume came as ETH tried to climb back towards $4,000, indicating revived interest in the blockchain. Data from Santiment reveals a rise in wallet creation over the past weeks.
Rising Activity and User Participation
A significant increase in active addresses by 4.24% points to greater user engagement. As new addresses have risen by 2.65%, it's evident that Ethereum continues to attract more users.
Ethereum Price Prediction and Its Support
Ethereum's price stability largely depends on key support levels located between $3,700 and $3,810. This area represents a major base where 3 million wallets purchased 4.6 million ETH.
The increase in new wallets and active addresses on the Ethereum platform demonstrates its continued growth and popularity in the market. These positive trends and high activity levels may bolster ETH and support its price in the short term.
