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Ethereum’s Daily Active Addresses Crosses 1 Million, Overtaking Bitcoin

2 mins
By Zerelik Maciej
Translated Harsh Notariya
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In Brief

  • The cryptocurrency world is full of surprises, and Ethereum (ETH) garnered attention with a sudden spike in daily active addresses.
  • While the price of this asset remains stagnant, recent data shows strong growth in daily usage of the Ethereum network.
  • In terms of the number of daily active addresses, Ethereum surpassed 1 million and overtook Bitcoin (BTC) and BNB chain on Sept. 13.
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Recent data shows strong growth in daily usage of the Ethereum network. Regarding the number of daily active addresses, Ethereum has even surpassed Bitcoin.

As the crypto universe is full of surprises, Ethereum (ETH) has been stealing the show since last week with its on-chain record. However, the price of ETH has mostly remained stagnant.

Increasing Ethereum Daily Active Addresses

The latest data from Artemis Terminal shows a surprising change in the world of cryptocurrencies. On Sept. 13, Ethereum had more daily active addresses than Bitcoin (BTC) and BNB chain. More specifically, Ethereum saw 1.03 million daily active addresses compared to Bitcoin’s 743,800 addresses and the BNB chain’s 1.02 addresses.

However, the metric returned to its original levels after the sudden spike.

Ethereum, Bitcoin, and BNB chain daily active addresses. Source: Artemis Terminal
Ethereum, Bitcoin, and BNB chain daily active addresses. Source: Artemis Terminal

Santiment’s market data further confirm this growth. According to Santiment, on Sept. 13, the number of active Ethereum addresses reached 1,089,893. This number is the second highest in Ethereum’s history – the peak was reached on Dec. 9, 2022.

The growing interest in Ethereum is also reflected in another milestone: On Sept. 13, 1,627,860 transactions were recorded on the Ethereum network – a new record. For comparison, the previous record occurred on Sept.17, 2020, with approximately 1,406,000 transactions.

Role of Ethereum in World of DeFi

Even though Ethereum’s value has fallen below $1,700, the cryptocurrency remains a key player in the world of decentralized finance (DeFi) and the smart contract domain. The chain currently has a market capitalization of over $196 billion.

Click here to learn about the top 6 DeFi lending protocols.

While Ethereum stands out for its unique fundamentals, it remains strongly linked to Bitcoin’s price movements. History shows that September is usually a bearish month for the cryptocurrency market, especially before halving events.

Ethereum price is expected to decline further in the coming weeks, possibly approaching the next support zone at $1,550. It is also under significant selling pressure. The screenshot below shows that ETH has been taking resistance from the 30-day Exponential Moving Average (EMA) since late July.

Click here to learn more about the moving averages.

ETH/USDT chart from Binance. Source: TradingView
ETH/USDT chart from Binance. Source: TradingView

Do you have anything to say about Ethereum’s daily active address or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

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Harsh Notariya
Harsh Notariya is a journalist at BeInCrypto, who writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created educational reports on...
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