Failing the ETH price, Ethereum breaks other records? Several indications show that the network of the second largest cryptocurrency continues to attract users. The hashrate, for example, has just hit an all-time high, and the number of non-empty addresses has also increased.
Ethereum hashrate hits record high
The use of miners at Ethereum is of course only temporary, as the network is (very) slowly but surely moving towards Proof of Stake and staking. But the computing power used to secure transactions gives an indication of the network’s participants.
In the last few days, the ETH hashrate has indeed reached a record of more than 1 petahash per second (PH/s). This threshold had never been reached before, even during the cryptocurrency’s last price record, set at the beginning of last November.
Ethereum network hashrate evolution over the past month (Source: CoinWarz)
As a reminder, a petahash is one quadrillion hashes per second. An exahash, the measure in which the hashrate of the Bitcoin network (BTC) is commonly expressed, is one quintillion hashes per second.
The number of non-empty addresses is at its highest
Another sign of interest in the Ethereum network is that the number of non-empty addresses is also on the rise. As reported by the Glassnode analysis service on Twitter, it has even reached an all-time high. There are now 71,364,788 addresses that contain ETH.
It can be seen that the increase in the number of addresses is – relatively – linear. This year, this indicator stagnated or even fell during the summer, only to pick up again more clearly as December approached:
Number of non-empty Ethereum addresses (Source: Glassnode Studio)
You’d think the progression would be just as linear for the other major cryptocurrencies, but that’s not necessarily the case. When we look at the number of non-empty addresses in Bitcoin, we see that the indicator has seen more variation over the year.
ETH price struggles to get back above $4,000 on a sustained basis
For the past few weeks, the price of the ETH has been struggling to get back above $4,000 on a sustainable basis. After its lightning fall in early December, the second cryptocurrency is moving in a range between $3,500 and $4,400.
Last week, ETH did manage to hold above this psychological threshold, but the past few days have erased those gains. In two days, the Ether has lost -13%, touching $3,585 early this morning:
Ether price evolution over the week (ETH) (Source: TradingView, ETH/USDT)
Ether currently has a market cap of $440 billion, or 19% of the total cryptocurrency market cap
