Ethereum Active Addresses Surge By 36% In Support Of Bullish Price Action – Details

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Ethereum Active Addresses Surge By 36% In Support Of Bullish Price Action – Details - NewsBTC

Quick Summary:

Joining the discourse, Kesmeci has drawn a bullish inference from the asset’s change in active address. The CryptoQuant analyst highlights that during Ethereum’s recent price surge, active addresses on its network increased by 36.26% from 306,000 on November 5, to its current value of 417,000. This development indicates that the price increase of Ethereum was based on an equal rise in organic demand and market interest by investors and blockchain users.

Related Reading: Ethereum Price Breakout: Charting The Uncertain Part Of ETH To $18,000 US Election Results Drive Ethereum Active Addresses To 417,000 Following the US elections of November 5, Ethereum, alongside a host of other cryptocurrencies, has experienced massive price gains driven primarily by the emergence of pro-crypto candidate Donald Trump as the US President-elect. According to Burak Kesmeci, the results of the US elections removed much uncertainty around the crypto market while encouraging investment as evidenced by price gains of several tokens.

In conclusion, Burak Kesmeci states the growth in Ethereum active addresses backs the recent price rally as "healthy and sustainable”.