Ethereum Daily Transactions Reach 1.729 Million, Highest Since January 2024
Ethereum has experienced a significant increase in daily transactions, reaching levels not seen in over 16 months. Key points include:
- Daily transactions surged by nearly 50%, crossing 1.7 million.
- The transaction count rose from 1.2 million on Monday to 1.729 million by Wednesday, coinciding with a price rise above $2,400.
- Active addresses increased by almost 50%, from 345,406 to 593,637 within four days.
Despite the increase in participation, sell volume has outpaced buy volume. Notable details include:
- In a 24-hour period, $168.37 million in on-chain activity was recorded, with approximately $78.15 million in buys and over $90 million in sells.
- There were more than 52,000 buy transactions compared to around 74,000 sell transactions.
- This trend suggests ongoing selling pressure may hinder any potential price recovery.
