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DeFi is Fueling a Surge in Active Ethereum (ETH) Addresses

en.ethereumworldnews.com

In the second quarter of 2020, the Ethereum network witnessed a significant increment of new ETH addresses. DeFi is fuelling a surge in activity on the Ethereum network Furthermore, the team at Coinmetrics went on to analyze the Ethereum addresses and concluded that active ones had increased by 8.1% in over a week.

This translated to over 500,000 addresses and the last time the Ethereum network experienced such activity, was in January of 2018 when ETH hit its all-time high value of $1,432. To provide a visual of the growth in Ethereum address activity due to Decentralised Finance, Coinmetrics analyzed the three DeFi tokens of Ox (ZRX), Maker (MKR) and Kyber Network (KNC), and came up with the following chart.

Bitcoin ETH
$ 3559.95
Bitcoin ZRX
$ 1.0476

Timeline of Ethereum, Kyber-network, 0x

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Bitcoin Bitcoin
70839.1000 2.77%
Ethereum Ethereum
3563.41000 1.64%
BNB BNB
581.746000 1.72%
Solana Solana
187.570000 1.81%
XRP XRP
0.62694900 2.28%