Active ETH addresses reach all-time high of 1.4M
Stablecoin and ERC20 transactions have also recorded significant spikes as ETH addresses hit ATH
Cover art/illustration via CryptoSlate. Image includes combined content which may include the use of AI tools.
The blue line on the chart above represents the active ETH addresses since January 2018. On Dec. 9, the number of active addresses spiked to reach 1.4 million. The previous ATH before this was recorded at the end of July at just above 1 million.
Breakdown
Looking at specific transaction types on Dec. 9, CryptoSlate analysts revealed huge movements in stablecoins and ERC20 transactions.
ERC20
This category includes all transactions that initiate ERC20 contracts, excluding the contracts in the Stablecoins category. The chart below represents the volume of these transactions with the purple areas.
The data demonstrate a visible spike in the number of ERC20 transactions on Dec.9, which marks a new ATH for the category. The previous ATH level was recorded in early August at just above 20%.
Stablecoins
The term stablecoins refer to fungible tokens that have their value pegged to an off-chain asset, either by the issuer or by an algorithm. This category includes over 150 stablecoins, with Tether (USDT), USD Coin (USDC), Terra Classic (UST), Binance USD (BUSD), and DAI (DAI) being the most prominent ones.
The chart above reflects the size of stablecoin transactions to and from ETH addresses. Although it didn't record a new ATH, the number of stablecoin transactions spiked on the given date. The ATH for this category was recorded in the second half of May.
Other transactions
This category includes all other transactions on the ETH network that are not included in either of the categories above.
The chart below visualizes the number of other transactions with the pink areas since the beginning of the year.
After a significant fall in mid-October, the volume of this category started to increase steadily with some volatility. The volume of this category also recorded a new ATH in early December at just above 52%.
