Crypto News

Ethereum Sees Record Network Growth Amidst Price Volatility

Ethereum, the leading blockchain platform, achieved a significant milestone as April drew to a close. On April 28th and 29th, the network witnessed the creation of 266.6K new wallets, marking the highest two-day surge in network growth since October 8th and 9th, 2022.

Despite facing price fluctuations, this robust expansion indicates Ethereum’s resilience and enduring popularity among users.

Of particular note is the remarkable uptick on April 29th, with approximately 139,560 new Ethereum addresses added in a single day. This surge in network activity underscores the ongoing growth and adoption of Ethereum, despite the challenges posed by fluctuating prices.

In line with this growth, institutional activity on Ethereum has also been notable. Binance’s institutional custody service, Ceffu, recently bolstered its Ethereum holdings by recharging 3,851 ETH to Binance, valued at 11.13 million US dollars. Moreover, over the past 8 hours, Ceffu executed token transfers totaling $55.68 million to Binance, including 38.51 ETH and $41.75 million in stablecoins and other tokens. While the exact purpose behind these transactions remains undisclosed, they signify ongoing institutional interest and participation in the Ethereum ecosystem.

Ethereum Foundation And Links With 100 ETH Sales

Meanwhile, the Ethereum Foundation made headlines with the sale of 100 ETH, equivalent to $290,000, through Cowswap. This transaction occurred at a selling price of $2912, indicating activity within the Ethereum community and potentially providing liquidity for the foundation’s operations.

In conclusion, Ethereum’s record network growth amidst price volatility underscores its resilience and continued appeal to users and institutions alike. As Ethereum continues to evolve and expand its ecosystem, such milestones serve as indicators of its enduring relevance and potential for future growth and innovation.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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