Ethereum (ETH), the second-largest cryptocurrency by market cap and the leading Web3 and DeFi blockchain, has seen a steady increase in the number of unique addresses in its network in 2024.
According to data from Etherscan, Ethereum has added nearly 100,000 new unique addresses daily in 2024, reaching almost 257.60 million as of February 7.
Unique addresses are a metric that indicates the number of accounts that have interacted with the Ethereum network at least once.
However, they do not necessarily reflect the number of active users or transactions, as one user can have multiple addresses, and some addresses can become inactive over time.
Ethereum’s unique addresses have grown exponentially since its launch in 2015, with an average of over 82,000 daily additions.
However, the most significant surge occurred in 2018, when Ethereum added over 239.1 million addresses or an average of 108,000 per day.
This was driven by the 2017 and 2021 bull markets, which boosted the price and popularity of ETH and other tokens.
In 2024, Ethereum’s unique address creation has slowed down slightly, averaging 95,570 per day.
This could be influenced by the current price action of ETH, which has been trading sideways in a narrow range.
However, it still has a lot of potential to grow, as it attracts more investments, developers, and users to its ecosystem.
The network is also undergoing a major upgrade, known as Ethereum 2.0, which aims to improve its scalability, security, and sustainability.
Ethereum 2.0 will transition the network from a proof-of-work (PoW) consensus mechanism, which relies on miners, to a proof-of-stake (PoS) consensus mechanism, which relies on validators.
This will reduce Ethereum’s energy consumption and environmental impact and increase its transaction speed and capacity.
Ethereum is definitely changing the way we interact with the internet and the digital economy, and it has a bright future ahead.