Active addresses on Ethereum network slumps close to 68% in 2018
Seems like blockchain is witnessing increased adoption! A recent report published by Etherscan indicated that unique addresses on the Ethereum network have crossed 50 million. The report stated that the highest increase of addresses on the network was registered in 2018.
According to the data cited by the report, there was a steep growth in addresses from 2017. The network recorded the highest increase of 352,888 new addresses on January 4, 2018. This implies that the ecosystem is seeing a greater rate of adoption among the public.
Dwindling Active Addresses
An important fact to consider while looking at the number of unique addresses is the number of active addresses out of all the unique addresses. Active addresses measure the strength of the blockchain. Sadly for the Ethereum network, the number of active addresses have been dwindling.
According to a Block report, the number of active addresses began to experience significant drops in 2018. According to data from Coinmetrics, January to December saw a drop of around 68% in the number of active addresses on the network. As of December 15, there are only 232,085 active addresses on the Ethereum network. This implies that a measly 0.46% accounts for the number of active Ethereum addresses on the network.
However, the Ethereum development studio, ConsenSys has presented a different picture. A recently published report from the company shows that it has high hopes for Ethereum. The report stated that Ethereum has processed over 100 million transactions since June 1. Also, the average number of daily transactions has been roughly 610,000 and there are now 49 million unique addresses.
The report also mentioned that the network has stabilized at 50 million transactions per month. “The number of transactions per month has decreased slightly since Q3, from ~20 million per month in July to ~16 million per month in November. The average ETH per transaction has increased in that same time frame, however, more than doubling from ~2 ETH/transaction to just under 5 ETH/transaction in November,” read the report.
Ethereum is also in close competition with Tron. Tron’s vibrant dApp products have set high standards for dApp products in the market. Reportedly, Tron has already surpassed Ethereum in terms of dApp usage and dApp transaction volume.
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