Unique Ethereum Addresses Increase Ahead Of Merge
There are currently 204,571,827 unique addresses on the Ethereum network, and with only 13 days till the Ethereum Merge, network activity is at an all-time high.
Based on data from Etherscan, this reflects an increase of almost two million unique addresses in the previous 30 days, or an average of 70,000 addresses every day.
Even though individual investors may have many addresses, new addresses don’t automatically indicate increasing network participation. However, it can indicate a rise in enthusiasm for the blockchain network.
As of August 31, there were 13,509.375 ETH staked on Ethereum 2.0, continuing to rise over the previous two months. That amounts to a month-long network expansion of more than 300k ETH.
Ethereum Merge and Price
Several analysts are predicting that the merge would lead to the ETH rallying, investors might currently be looking to cop the asset in anticipation of the run.
According to crypto analyst firm Santiment, traders are shorting ETH at a record rate, which could signify a future rally.
In the meantime, it should be mentioned that ETH’s recent price performance has been dismal following its fleeting surge in response to the merger news.
But not everyone is confident in the price of ETH after the merger.
Brian Kelly, a contributor to CNBC, claims that the Ethereum merging exposes traders to more risks than are generally acknowledged.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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