Experts yet to explain massive spike in ETH active addresses

Experts yet to explain massive spike in ETH active addresses


On-chain metrics firm Santiment says it is still investigating the cause of a sudden surge of ETH active addresses, which have eclipsed the previous ATH by a whopping 48%

On July 27, the analytics firm tweeted that the number of daily active addresses on Ethereum had suddenly spiked to 1.06 million, shattering the previous high of 718,000 set back in 2018.

An active address is one that has made a transaction in the past 24 hours. The number of active addresses can indicate the level of on-chain activity from developers and projects inputting updates to their work or platforms, and traders performing simple token transfers.

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However, Santiment says its team is still investigating the cause of the spike. Cointelegraph also reached out to Ethereum core developer Tim Beiko

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