Ethereum Sets an Unprecedented Adoption Record in 7 Years

Adoption of the Ethereum network reaches an unprecedented level. In a single day, more than 447,000 new holders joined the blockchain. A record that marks a major turning point for the crypto market! Above all, something to restore investor confidence.

Ethereum Reaches a Historic Milestone on the Blockchain

The Ethereum network has just broken a seven-year-old record. In just 24 hours, 447,000 new wallets were created. This figure far exceeds the previous mark of 351,000 active addresses. According to Glassnode, the daily average of wallet openings now exceeds 300,000 addresses.

Onchain activity also shows a multiplication of transactions. This indicates a real use of the Ethereum network. Investors thus seem to be returning to ETH as decentralization strengthens and confidence in the blockchain consolidates.

According to many crypto analysts, the rise in active addresses highlights the protocol’s vitality as well as its central role in the decentralized ecosystem.

Ethereum Price Breaks Free After Two Months of Stagnation

Ethereum has finally broken the resistance that limited its progress for nearly two months. The ETH token price is now around $3,317, above the key support of $3,287. This technical analysis confirms the breakout from a bullish triangle, thus opening the path to a target estimated at $4,240. This represents a potential increase of 29%.

Short-term holders, still at a loss, are reducing selling pressure. The STH-NUPL indicator remains in the capitulation zone. This limits sales and favors price progression. This situation supports the thesis of a sustainable bull rally, reinforced by the arrival of new investors.

With this adoption record, Ethereum asserts itself (at least!) more than ever as the pillar of DeFi. If the trend continues, the network could well start a new growth phase and consolidate its place at the top of the crypto market. To be continued…