Ethereum daily active address count surges 127% YTD

IconCryptoNewsTerminal Staff26 Jul, 2024

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Ethereum daily active address count surges 127% YTD

Coinbase Institutional, in its official X, reported that "Ethereum daily active addresses have surged 127% year-to-date. This has been driven by Layer 2s. In fact, Layer 2 unique addresses are now roughly 3x that of unique addresses on the Ethereum Layer 1 network." Ethereum's daily active address count has surged 127% year-to-date, according to Coinbase Institutional. This growth has been driven by the increasing popularity of Layer 2 scaling solutions, which allow for faster and cheaper transactions on the Ethereum network. Layer 2 unique addresses are now roughly 3x that of unique addresses on the Ethereum Layer 1 network. This indicates that Layer 2 solutions are becoming increasingly important for the Ethereum ecosystem. The growth of Ethereum's daily active address count is a positive sign for the long-term health of the network. It shows that there is increasing demand for Ethereum's services, and that Layer 2 solutions are helping to meet that demand.

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