Istanbul hard fork leads Ethereum network have more than 38,000 new addresses
As of now, the Ethereum network remains the fastest growing Blockchain project in the cryptocurrency industry. According to Blockchain analysis firm Intotheblock, in the past 24 hours, more than 38,164 ETH wallets have been created. Behind Ethereum are Cardano (4,511 wallets) and Bitcoin SV (2,110 wallets).
Do you know which are the Top Growing Assets in terms of the number of new addresses entering the network?
— intotheblock (@intotheblock) December 4, 2019
ETH price and number of new addresses are not related
Although more than 38,000 new wallet addresses have appeared on the Ethereum network, the ETH price has not changed significantly. Meanwhile, according to Intotheblock, the Ethereum network in recent days has been growing steadily with remarkable speed. On December 2, over 24 hours, over 70,000 new addresses appeared. And there are also about 24,000 addresses leaving the network.
A good measure of the healthiness of a crypto-asset is the network activity
In #Ethereum during the last 24hours:
▪️ 70.71k New Addresses were created
▪️ 23.94k Addresses left the network
▪️ There were 244.7k active addresses
— intotheblock (@intotheblock) December 2, 2019
Besides, Intotheblock also emphasized, DeFi (decentralized finance) is one of the most active applications on the network. At press time, there is almost $ 450 million tied up in the DeFi applications. This is a number that has been overgrowing during 2019.
The Ethereum network will have significant changes
As AZCoin News reported, the Ethereum network will soon implement the Istanbul hard fork. The Istanbul hard fork includes six improvement proposals Ethereum (EIP). These suggestions are intended to improve DOS’s attack resilience, enable interoperability between Zcash and Ethereum networks, and allow smart contracts to work more smoothly.
Source: Ethereum network.
Even so, the Ethereum network is likely to encounter significant disagreement as the nodes are still not ready for the hard fork. However, that is another story. Let’s wait and see. Despite the unexpected, we cannot deny that ETH is still the largest altcoin in the market. Although there are some “struggles” with XRP, the fact again shows that ETH still holds its position. And it is expected that when the Istanbul hard fork occurs, the growth of DeFi or the participation of tens of thousands of new users will create a wave of buying in the cryptocurrency market.
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