Summary
- Santiment said new wallet creations on the Ethereum network reached an all-time high, averaging 327,000 per day.
- Santiment said the Fusaka upgrade introduced in December significantly reduced gas fees, driving a sharp rise in new user inflows and wallet creations.
- Santiment said stablecoin transfer volume on the Ethereum network hit a record $8 trillion in the fourth quarter of last year, noting it is being used as a payments infrastructure with real-world usage.
According to crypto data analytics firm Santiment on the 13th (local time), the number of newly created wallets on the Ethereum (ETH) network hit a record high, averaging 327,000 per day.
Santiment said, "Gas fees were significantly reduced through the Fusaka upgrade introduced last December. As a result, new user inflows increased and wallet creations surged."
It added, "In the fourth quarter of last year, stablecoin transfer volume on the Ethereum network reached a record high of $8 trillion," explaining that "as Ethereum is being used as a payments infrastructure with real-world usage, new users are flowing in."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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