The Growth In Ethereum Users This Weekend Was Record-Breaking

In 2022, the Ethereum system and the ETH token itself recorded its strongest daily growth, as the overall amount of personal addresses on the system reached a record-breaking level of all times over the past week. The creator noted that Ethereum saw an increase in the number of brand-new personal wallets registered on the network during this weekend, with almost 150 thousand new users joining the system and appearing on the Ethereum blockchain framework, according to crypto analytics firm Santiment. 

The numbers and statistics

In a tweet posted over the weekend, the company indicated that this growth was more than eleven percent higher than at the beginning of 2022. Tuesday of the next week was the day this network recorded the second-highest increase in the number of users of the year. As Santiment explains, the growth of the network means greater benefit to the network and often a sign of potential asset disruption.

Twitter has also seen unusually strong network growth, with one Twitter analyst and blogger predicting some great changes in the Ethereum network in the future. The massive increase within the past week likewise shows that the total figures of Ethereum billfold pages has hit the highest level since the creation of the network. This Sunday, the network had 207.4 million unique addresses, according to Etherscan. 

The market response

The benefit of Ethereum, and thus the value of ETH, is what the Ethereum users hoped to see from a long-awaited Proof of Stake (PoS) introduction. In addition to that, Merge is awaited to produce significant energy efficiency improvements, and the Ethereum Foundation has shown that it can reduce network power consumption by up to 99.95%. As previously reported by Cryptonews.com, many believe this will lead to significant inflows of capital from investors sensitive to the environment and ESG.

Nevertheless, the cost levels have not yet responded as the users hoped, with ETH exchange rates around seventeen percent lower than it was several weeks ago when the new partnership was established and the PoS system firstly introduced to the community. But still, the market is going to respond after all and the prices are awaited to rise.

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