CandleFocus Ethereum Sees 8-Month High in Wallet Growth as Price Nears $4,000
2024-12-14
Author: Content Editor
Ethereum's network growth has reached its highest level since April 2024, with an average of 130,200 new wallets created daily in December. This surge in network activity indicates a growing user base and renewed interest in the blockchain. Despite a recent pullback in price, market optimism remains high, with analysts suggesting further upward potential due to strong network metrics and investor demand. CryptoQuant analysts expect Ethereum to cross $5,000 for the first time, and there has been a high spot Ethereum ETF inflow of $854 million this year. Additionally, decentralized transactions on the Ethereum network have been active, with an average of 6.5-7.5 million transactions per day. The increased total supply of Ethereum also supports the potential for short-term price appreciation.
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