Ethereum User Tsunami: Record 94,000 New Accounts And $32 Million In Staked Funds

Name	Symbol	Market	Market Cap ($)	Algorithm
ApeCoin	APEUSD	Crypto	478,997,869	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

ApeCoin

APEUSD

Crypto

478,997,869

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.015	-2.10%	0.698	0.697	0.698

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.015

-2.10%

0.698

0.697

0.698

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.746	0.696	0.716	0.713	0.477000 - 5.35

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.746

0.696

0.716

0.713

0.477000 - 5.35

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	21:27:12	1,432.66	0.698	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

21:27:12

1,432.66

0.698

USD

Price x Volume	Volume	Base Symbol	Related Pairs
733,246.73	1,011,091.27	APE	APEEUR	APEGBP	APEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

733,246.73

1,011,091.27

Ethereum User Tsunami: Record 94,000 New Accounts And $32 Million In Staked Funds

27/11/2023 11:45am

NEWSBTC

According to CryptoQuant’s data on November 4th, Ethereum (ETH) achieved a significant milestone. The aggregate amount of funds staked in the Ethereum 2.0 smart contract has experienced a notable surge, reaching a commendable sum of $32 million. The current increase in value is indicative of a larger pattern in which investors are consistently and proactively investing in ETH, thereby propelling the Ethereum ecosystem to unprecedented levels of growth. In the broader context of the year 2023, Ethereum’s exceptional performance is clearly observable, as it has contributed a significant $74.5 billion to its market value thus far this year. Source: CryptoQuant The jump in market capitalization recorded at the beginning of the year on January 1 marks a significant gain of 51% from the initial value of $146 billion. The latest data trends from on-chain sources also reveal a significant rise in the number of new user addresses for Ethereum. This demonstrates the platform’s ability to withstand the unexpected departure of Binance founder Changpeng Zhao and the consequent minor decline in cryptocurrency markets that occurred last Wednesday. Related Reading: Is Apecoin On Your Radar? APE Soars By 30% In 48 Hours, Signaling A Potential Bull Run On Friday, Ethereum (ETH) demonstrated a noteworthy resurgence as it successfully regained the price level of $2,100. This quick recovery occurred following the instability caused by the resignation of Zhao and the $4.3 billion settlement with the US Securities and Exchange Commission. ETHUSD breaches the $2k level. Chart: TradingView.com The consistently changing market dynamics draw attention to the possible consequences of the increase in user activity, prompting investors and analysts to observe the trajectory of Ethereum. Related Reading: BLUR Clears The Way With 80% Blowout – Will Price Continue Soaring? Source: TradingView On the hourly chart, the price of Ethereum (ETH) currently resides within the central region of the local channel, indicating a state of equilibrium. This suggests that the market is gathering momentum and preparing for a potential significant price movement in the near future. Meanwhile, upon examining Glassnode’s New Addresses chart, it becomes evident that there has been a notable increase in the user population of Ethereum. Specifically, the Ethereum network witnessed the creation of 94,451 fresh ETH addresses subsequent to recent news occurrences. Number of new ETH addresses. Source: Glassnode Upon further analysis of the chart, a significant insight emerges: the most recent occurrence of Ethereum witnessing a substantial influx of new participants took place in July 2023. The provided data highlights a notable increase in interest and engagement within the Ethereum ecosystem, indicating a significant influx of players that has not been observed since the middle of the year. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Freepik

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