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177,000 new Ethereum addresses created in a 35 month high

177,000 new Ethereum addresses created in a 35 month high

Quick take

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  • A 35 month high has been met from the creation of Ethereum addresses. 
  • 177,000 new addresses were added to the network earlier this week according to Santiment analysts.

A 35 month high has been met from the creation of Ethereum addresses. 177,000 new addresses were added to the network earlier this week according to Santiment analysts.

According to the analysts from the provider, they reported it out to the net with the growth metric indicating that the network had 177,500 addresses added in just one day on 12th of December.

On the 14th of December, the number of active addresses also saw an increase to 714,000+. The all-time high for Ethereum addresses being added to the network came in January 2018 following the infamous bull run in December 2017 when bitcoin hit an all-time high of $20,000.

There could be a number of factors as to why there were so many active addresses and why so many addresses were created over the past few weeks and months. The spike in DeFi liquidity mining provides some good returns with Ethereum as collateral so this could be a reason.

However, a thread on Reddit discussed the achievement and highlighted that a token AirDrop from flare networks for holders of the native ripple token was a big reason as to why there was a big spike in address creations.

"Could be bc of the XRP/Spark/Flare airdrop, which requires an ethereum-compatible address", one user said.

For more news on this and other crypto updates, keep it with CryptoDaily!

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