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New Ethereum Wallet Addresses Hit December 2023 Low After Spot Ether ETF Launch; Solana Sees Growth

The number of new Ethereum wallet addresses has reached its lowest level in 2024, coinciding with the recent launch of spot Ether exchange-traded funds
By: DeepNewz • August 05, 2024
New Ethereum Wallet Addresses Hit December 2023 Low After Spot Ether ETF Launch; Solana Sees Growth

The number of new Ethereum wallet addresses has reached its lowest level in 2024, coinciding with the recent launch of spot Ether exchange-traded funds (ETFs) in the U.S.

The seven-day moving average of new Ethereum wallets has not been this low since December 2023.

While Ethereum's on-chain activity is cooling, the Solana network has seen an increase in new wallet addresses.

Analysts suggest that the decline in Ethereum wallet creation may be linked to market reactions following the ETF launch, with concerns about potential sell-offs affecting the spot markets.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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