Bitcoin
BTC$49 128.70

-7.55%

Ethereum
ETH$4 120.96

-1.29%

Binance Coin
BNB$562.73

-3.52%

Tether
USDT$1.001430

0.08%

Solana
SOL$198.10

-2.74%

Cardano
ADA$1.39

-8.63%

Ethereum address creation hits 35-month high


16 Dec 2020

#Ethereum

Ethereum address creation hit a 35-month high on December 14 when 177,000 new addresses were added to the network according to analysts from Santiment. The analytics provider reported that its network growth metric showed Ethereum adding 177,500 addresses in a single-day on Saturday, Dec. 12. The number of active addresses also surged on Dec. 14 to 714,081, though its all-time high came during the crypto boom in January 2018 when it topped 1.1 million according to Bitinfocharts.com.

There could be a number of reasons for the uptick in address creation and active addresses in recent months including the surge in DeFi liquidity mining offering good returns with ETH as collateral. The anticipation of staking rewards on the newly launched ETH 2.0 Beacon Chain may have also driven address growth as investors buy ETH to stake on the new blockchain. And of course Bitcoin prices are back near all time highs, helping light a fire under other cryptocurrencies too.

But a Reddit thread about the milestone, discussed the possibility that a token airdrop from Flare Networks for XRP holders was a big contributor to the address creation spike. Flare is a new protocol that intends to bring decentralized finance to the XRP ecosystem by making it compatible with existing smart contracts with the Ethereum Virtual Machine. Redditor SoundofCreekWater said: “Could be bc of the XRP/Spark/Flare airdrop, which requires an ethereum-compatible address”.

Flare’s native FLR token will be used to collateralize the issuance of FXRP, a fully trustless representation of XRP on the network. The airdrop took a snapshot of XRP balances on Dec. 12, which coincided with the Ethereum address creation spike. Flare explained that 45 billion Spark tokens will be distributed, with 15% claimable at the time of network launch which has been slated for three to six months’ time. The rest will be distributed over the next two years.

While major exchanges such as Coinbase and Binance are supporting the airdrop and automating the process, those that hold their XRP off a centralized exchange will have needed to create a Flare address in order to be eligible for the airdrop. XRP prices have tanked 22% since the snapshot took place.

Source


Related

Eth2 devs call on to community to help test out the merge
Eth2 devs call on to community to help test out the merge
Stocks lurch pressured crypto on Friday
Stocks lurch pressured crypto on Friday
Traders expect Ethereum price to drop further ahead of Friday’s $550M options expiry
Traders expect Ethereum price to drop further ahead of Friday’s $550M options expiry
Cryptocurrencies in FinTech
Cryptocurrencies in FinTech
Traders watch for a trend reversal after Ethereum price drops to $4,100
Traders watch for a trend reversal after Ethereum price drops to $4,100
Bitcoin and Ether increasingly move in line with stock market laws
Bitcoin and Ether increasingly move in line with stock market laws
Rocket Pool Eth2 staking service launches, hits stage two cap in 45 seconds
Rocket Pool Eth2 staking service launches, hits stage two cap in 45 seconds
Ethereum Name Service’s new token already has a fully diluted cap of $3.1B
Ethereum Name Service’s new token already has a fully diluted cap of $3.1B
Bitcoin price hits 1-week high in minutes on sudden $1.5K gains
Bitcoin price hits 1-week high in minutes on sudden $1.5K gains

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 76.4% 50 $49 128.70 -7.55% -10.26% $928 110 420 973 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 81.2% 36 $4 120.96 -1.29% 0.92% $488 780 881 496 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 80.8% 32 $562.73 -3.52% -6.79% $93 864 649 605 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 92% 1 $1.001430 0.08% 0.06% $74 263 665 994 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 70% 62 $198.10 -2.74% 3.42% $60 546 003 381 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 64% 72 $1.39 -8.63% -9.93% $46 287 449 057 ADA 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 90.4% 2 $1.000097 -0.05% 0% $40 029 698 519 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 70% 66 $0.836385 -7.82% -11.54% $39 516 931 096 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 69.6% 62 $74.36 25.00% 66.02% $28 825 591 225 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 62.8% 76 $28.96 -12.18% -17.48% $28 604 270 701 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 66% 73 $0.176449 -10.40% -13.54% $23 359 356 254 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 64.4% 75 $90.68 -11.80% -18.97% $22 009 485 134 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62.4% 76 $0.000036 -8.88% -7.14% $19 722 014 052 SHIB 7 days price change
14 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 57.6% 86 $0.600991 -3.69% -20.69% $15 182 834 806 CRO 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 67.6% 62 $1.97 -8.29% 22.24% $13 803 349 402 MATIC 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.