On-chain data shows the Ethereum active addresses have observed a large spike recently. Here’s what this could mean for ETH’s price.
Ethereum Daily Active Addresses Have Seen A Surge Recently
According to data from the on-chain analytics firm Santiment, the ETH active addresses are currently at their second-highest level since the middle of September. The “active addresses” here refer to those addresses on the Ethereum blockchain that are taking part in some sort of transaction activity.
In the context of the current discussion, the unique number of these active addresses is of interest. Note that this metric takes into account both the senders and receivers.
The active addresses may be considered analogous to the unique users present on the network, so their number can provide hints about the degree of traffic that the chain is observing right now.
When the value of the indicator is high, it means that the ETH network is receiving a large amount of traffic currently. This coul
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