The world’s largest smart contract development platform, Ethereum (ETH), has added over 5 million more unique addresses in just 30 days as the asset continues to gain momentum ahead of its scheduled EIP-1559 upgrade.
According to data compiled by Finbold, Ethereum added 5.37 million new unique addresses in the last 30 days (June 6th, 2021 – July 6th, 2021). This means that on average, the Ethereum network added 173,235 new unique addresses daily.
The total number of distinct Ethereum addresses has grown to 162,231,196. Lately, ETH has indeed experienced a drive-in demand, which has contributed to its cumulative address growth after the asset experienced massive capital outflows last month.
Data table (scrollable):
|Date||Total number of unique ETH addresses|
ETH demand on the rise
Recently, Celsius Network CEO Alex Mashinsky stated that Ethereum ‘flippening’ Bitcoin is happening now and will become more widespread. Broader adoption of Ethereum is expected as Mashinsky believes that layer two solutions will fix ETH’s issues in the near future.
ETH 2.0, on the other hand, will be a substantial and gradual enhancement on layer two solutions, but both systems will function in tandem in the future, according to Mr. Mashinsky.
A week ago, Ethereum overtook Bitcoin in total daily active addresses for the first time in crypto history, suggesting that demand for the world’s second-largest cryptocurrency is rising. The active addresses on a crypto network show the total number of senders and receivers for a given coin.
Since Ethereum has notably surpassed Bitcoin in terms of daily active addresses, it might signal that the world’s second-largest cryptocurrency by market capitalization is on its path to becoming the most popular.
For example, U.S. investment bank Goldman Sachs, considers the Ethereum blockchain network to have the capability to usurp Bitcoin as the main store of value cryptocurrency.
The multinational financial institution believes that ether’s use cases now have the most “potential,” as it is the most popular smart contract development among the crypto community, according to a Business Insider report published on Tuesday,
Ethereum EIP-1559 upgrade
On August 4th, the long-awaited London EIP-1559 upgrade for the Ethereum network will commence.
In a block activation proposal on Github on July 6th, Ethereum principal developer Tim Beiko stated on Twitter the mainnet upgrade will take place around block 12,965,000.
Since the mainnet upgrade is scheduled to deploy at block 12,965,000, the London hard fork will take place on August 4th, rather than the mid-to-late July date as expected initially. If the…