Ether’s Address Activity Has Spiked

Ethereum ETF news, which started on June 16, continues to show its effect. Addresses on the Ethereum network continue to interact in an incredible way. Capturing 467,000 “unique address interactions” in just one day, the Ethereum network hit a two-month peak for this data.

Since the initial announcement of Ethereum-based Exchange Traded Funds (ETFs) on June 16, the market has seen a significant increase in activity levels on the Ethereum network. ETFs open the door for both institutional and retail investors to easily invest in the asset. With these situations, many data on the Ethereum network experienced a great increase in a short time.

As Ethereum faces updates such as the transition from Proof of Work to Proof of Stake with Ethereum 2.0, increased network activity could be an early sign that the market is poised for more benefits and perhaps even more value. In addition, updates such as the transition from Proof of Work to Proof of Stake with Ethereum 2.0 and increased network activity play an important role in attracting investors and users to this space.