- ETH ecosystem hits new ATH with 15,400,000 active addresses.
- The blockchain is up by over 62% in the last 7 days showing continued network popularity.
- Analysts and traders patiently wait for ETH price to pump as well.
Ethereum (ETH) just got beat out by Cardano in terms of core developer activity. Despite this hit, ETH enthusiasts are strongly advocating for ETH. Indeed, the Ethereum blockchain has milestones of its own to celebrate. To highlight, the ETH ecosystem hits new ATH with 15,400,000 active addresses marking a surge of over 62% in just 7 days. Analysts mark Ethereum layer 2 dominance and expect bullish activity for ETH price.
ETH Ecosystem Hits New ATH with 15,400,000 Active Addresses
The reputed pioneer altcoin ecosystem Ethereum was just beat out by Cardano in terms of most core developer activity on the blockchain. Despite this loss, the Ethereum ecosystem continues to thrive as it is a whole for hundreds of active web3 projects. As the home of the pioneer altcoin asset ETH, the Ethereum blockchain carries a lot of history and is recognized as the blockchain that unlocked massive doors of opportunity for web3 applications.
In detail, the Ethereum blockchain is the ecosystem that went beyond using blockchain technology for more than just financial transactions. In particular, the Ethereum ecosystem is the one that introduced smart contracts which allowed the blockchain boom to occur. Soon, the web3 realm grew tenfold to include several new applications including DeFi, GameFi, non-fungible tokens (NFTs), and so much more.
Since then, several blockchains were built to rival Etheruem and offer a greater experience than Ethereum was offering then. After all, all that activity eventually led to congestion on the Ethereum blockchain. Soon, even the smallest transaction cost more than the amount being transferred due to greater gas fees caused by network congestion. To combat thi, its founder Vitalik Buterin, proposed Ethereum 2.0.
When Will Ethereum’s Success Flow to ETH Price?
Ethereum 2.0 was a new initiative that would introduce a hard fork for the Ethereum ecosystem which would eliminate high gas fees and elevate scalability and speed for Ethereum network users. What was expected to be a quick venture ended up being a 6-year long journey to deploy Ethereum 2.0. While users were frustrated, the Ethereum blockchain continued to keep their users loyal despite new and improved blockchains occurring.
Even now, despite the success of blockchains like Solana and the comeback of Cardano, Ethereum continues to hold on to its reputation and continues to give blockchain developers a space to thrive in the robust and dynamic blockchain industry driven by innovation and possibility.
As we can see from the post above, the ETH ecosystem just hit a new ATH with 15.4 million active addresses. It also celebrated a 62.7% surge in 7 days and records Ethereum layer 2 dominance at record 6.65x. The Ethereum community is pleased to see ETH scaling and thriving and expect the same abundance to flow for ETH price soon.
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