Ethereum Wallets Reach Record Levels: Activity Spike Masks Weak Momentum
The sudden surge in ETH network activity challenges the prevailing market stagnation. Ethereum's Record Wallets: A Bull Trap Masking Deeper Structural Weakness? Ethereum’s on-chain data screams record growth—over 837,000 active wallets daily , a staggering 1,135% surge in a decade . Concurrently, 284,800 new ETH wallets are created each day, marking a nearly 2,000% increase over ten years . Yet, after a brief flirtation, ETH struggles to consolidate above the $2,000 mark, losing momentum just as quickly as it gained it. ETH Price Trend Last 7 Days Powered by CryptoCompare Here is what no one is talking about: raw wallet count, much like transaction volume, can be a mirage. The crucial question ...