Summary
- It reported that the share of new Ethereum addresses has been on an upward trend over the past 30 days.
- It said the pickup in DeFi, stablecoin transfers, NFT trading, and the use of new applications was analyzed as driving the improvement in on-chain metrics.
- It explained that sustained transaction activity by new wallets could signal a meaningful recovery, while a slowdown could amount to only a temporary market reaction.
Activity indicators on the Ethereum (ETH) network have improved markedly.
On the 16th (Korea time), digital-asset news outlet CoinDesk, citing Glassnode data, reported that the share of new Ethereum addresses has been rising over the past 30 days. The outlet said, “The latest readings show a notably larger increase than in recent months,” adding that “it is particularly positive to see network activity expanding around new participants.”
The improvement is attributed to growth in decentralized finance (DeFi), stablecoin transfers, non-fungible token (NFT) trading, and usage of new applications.
However, the outlet noted, “It remains uncertain whether this upswing will translate into a sustained expansion in usage,” explaining that if new wallets continue transacting, it could be seen as a meaningful recovery for the Ethereum network, but if activity slows in the near term, it may amount to only a temporary market reaction.
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