Ethereum On-Chain Activity Reaches New Highs Amid Crypto Revival

• Ethereum on-chain activity has recorded a new high following the crypto market revival.
• Network usage in terms of addresses has also surged, with an all-time high of 92.5 million addresses over the weekend.
• With the transition into proof of stake (PoS) mechanism, Ethereum is expected to become a deflationary token.

Ethereum On-Chain Activity Records New Highs

The crypto market revival has caused various metrics under the Ethereum network to show steady increases over the past few months. According to data from Etherscan, the total number of ETH transferred daily on the network surpassed 1 million once again in recent years, indicating that the network activity has not had any significant decline over the past three months.

Network Usage in Terms of Addresses Surges

In addition to increased daily transfers, another metric known as network usage in terms of addresses has also seen growth. According to PrimeXBT’s recent report on Ethereum, there was an all-time high of 92.5 million addresses recorded over the weekend – a 10% increase from its previous levels.

Ethereum’s Transition into Proof Of Stake Mechanism

With Ethereum’s transition into proof of stake (PoS) mechanism, it is expected for it to become a deflationary token and eliminate sell pressure from miners. This could help further solidify its position in being second largest crypto by market cap and rival Bitcoin for top spot in future years ahead.

Rapid Adoption and Birthing Of New Ecosystems In Web3

The rapid adoption and birthing of new ecosystems in Web3 have only pushed potential blockchains such as Ethereum forward with no significant retracement or declines seen so far in its metrics or native token price holds steadily throughout bear markets according to crypto YouTuber Lark Davis’ analysis on January 29th 2021 tweet post.


In conclusion, Ethereum continues to amass new highs pushing forward despite current market conditions which have only continued to push its network activity even higher than before with various metrics showing steady increases over time – making this blockchain one that could potentially compete with Bitcoin for top spot soon enough if everything continues progressing positively overall!