EthereumThe number of active wallets in the network is approaching 1.1 million, heading towards its historical record.
The Ethereum network experienced a significant increase in the number of wallets processing transactions on Wednesday. The number of active wallets, which increased in direct proportion to the increase in sender and receiver volume, reached 1,089,893, reaching the second highest value of all time.
Experts evaluated the unusual increase
Experts stated that this sharp increase in activity on the Ethereum network could indicate a potential recovery in the ETH price and be an important capitulation signal for investors. This rapid change occurring in the Ethereum network is described as a decision process by various crypto communities.
Such increases in wallet activity have often occurred before critical price recoveries in the cryptocurrency market. While users and investors were going through difficult times, increasing participation in Ethereum’s network initially presented a negative impression, but then brought a period of rise.
Considering that the cryptocurrency market has been in a bear season for a very long time, these important statistics from the leader of altcoins can be informative about the process. Although most data on the crypto industry side offers bullish signs, the ongoing tightening policy around the world continues to restrict the sector.
