Active Ethereum Wallets Record A New All-Time High

If you have been reading our ETH news, you probably know that Ether is a decentralized system which is fully independent and not under anyone’s authority. New reports show that the number of active Ethereum wallets record a new all-time high, making a lot of traders optimistic about the future ETH.

In numbers, the active ETH wallets and non-zero addresses just reached an all-time high of 42,385,447 coming from the previous all-time high of 42,382,991 which was set on 26 June 2020. 

📈$ETH addresses growing to an all-time high! https://t.co/QolM9w1TrJ

— Ciara Sun (@CiaraHuobi) June 27, 2020

In addition to this, the total gas used on Ethereum network reached an all-time high this week as miners on the network voted to increase block gas limits by 25%. All of this will allow the Ethereum network to handle around 44 transactions per second, instead of the previous limit of around 35.

The active Ethereum wallets are increasing right now and we can also see this on Twitter. Data from market aggregators show that ETH is the second most valuable cryptocurrency by market capitalization and had a value of $25.3 billion and a daily trading volume which stood at about $5.9 billion right now.

Total gas used on ethereum reached an all-time high this week as miners on the network voted to increase block gas limits by 25%. This will allow the ethereum network to handle 44 transaction per second, instead of the previous limit of around 35. https://t.co/lZZGwrDRBl pic.twitter.com/3DNgcK9Ja9

— CoinDesk Research (@CoinDeskData) June 27, 2020

As a decentralized system, Ethereum is fully independent and not under anybody’s authority. There is no pivotal point and the platform is connected to thousands of its users through their computing system around the world. This means that it is almost impossible for Ethereum to go offline.

“The increase in gas usage indicates a continuous growth in the use of Ethereum’s platform, as measured by the number of transactions, as well as demand for block space, as measured via gas per transaction,” said Wilson Withiam, a research analyst working at the data provider Messari.

Just like a lot of other crypto assets, speculating with Ethereum is very profitable now. However, the number of active Ethereum wallets is growing which is why many bet on positive updates in the crypto news coming in July.

On top of that, we also have the ETH 2.0 and the recently released testnet which spell a lot of great developments for the coin. If all plays well, we could see ETH rising to new highs which is why the investors and traders are stocking up ETH and saving their funds right now.