The total number of wallet addresses on the Ethereum network reached a new all-time high over the weekend, marking the biggest one-day growth so far in 2022.The rise suggests that the network is becoming more useful in the real world.
As many as 135,780 brand-new wallet addresses were added to the Ethereum network on Saturday, according to data from the crypto analytics company Santiment.
In a tweet that went out over the weekend, the company said that the increase was 11.1% higher than on January 3, which was the second biggest day for network growth this year.Santiment explained that network growth indicates an increase in the network's utility, which "commonly foreshadows potential asset breakouts."
The large increase over the weekend also resulted in an all-time high for the total number of Ethereum wallet addresses.According to information gathered by Etherscan on Sunday, the network contained a total of 207.4 million distinct addresses.
Following the highly anticipated transition to proof-of-stake (PoS) on September 15, known as the Merge, the Ethereum community has wished for growth in Ethereum's utility—and ultimately the price of ETH.
