Data from the analytics site Etherscan shows that on average 70 thousand Ethereum addresses It is registered before the ETH merge operation from the PoW to PoS mechanism.

As Ethereum (ETH) prepares to update the integration to Proof of stake mechanism (PoS), network activity is increasing day by day. Ethereum network update It is considered a bullish sentimental signal and now the number of unique Ethereum addresses created before the September 15th event is increasing.

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Read more: Ethereum in 2022; ETH price prediction, future and roadmap

Register 70k Ethereum addresses before merging

As of September 2, 2022, the Ethereum network had 204,571,827 unique addresses. This was significantly more than the number of Ethereum addresses on August 2nd. In August, Ethereum network hosted 202,361,298 registered addresses. According to Etherscan data, on average daily approx 70 thousand Ethereum addresses Added to the network.

It is worth noting that the newly generated addresses do not necessarily indicate whether they are active or the number of users in the network. Individual investors sometimes have more than two Ethereum wallet addresses.

Added 70 thousand Ethereum addresses before the merge operation

The cryptocurrency market is still in a bad state. Despite falling financial markets, Ethereum is growing thanks to the promotion operation. the operation Ethereum Merge It will change the mechanism of this network from Proof of Work (PoW) to Proof of Stake (PoS).

As it turns out, owners of 70,000 new Ethereum addresses are trying to get their hands on the market’s biggest altcoin at a low price. These people expect ETH price increase thanks to the merger operation. Technically, Ethereum has managed to break its short-term ceiling. This is indicative The possibility of ETH price growth After the merge operation.

Santiment, a blockchain analytics platform, reported that Ethereum traders have opened the most sell trades in the cryptocurrency since June 2021. Santiment said in his tweet on August 30:

Traders’ disbelief towards Ethereum is intense. Most of the users are opening short trades. This sales volume is currently the highest since June 2021.

Given that most Ethereum investors are losing money, monitoring how Effect of Marj Ethereum operations It will be interesting on the current bear market. According to a report published by Finbold on August 30, the number of Ethereum wallets in losses reached a monthly high. This information is based on a seven-day moving average.

Some analysts are skeptical about the future of Ethereum and the rise in the price of this cryptocurrency after the merger. Although this upgrade makes Ethereum an anti-inflationary asset, Antoni Trenchev, co-founder of lending platform Nexo, notes that there is no guarantee that the merger will lead to a price increase.

According to Trenchev, Ethereum price increase It depends on the update performance of this network. If the first update is not successful, the probability of Ethereum price increase decreases.

Ethereum is trying to maintain its $1500 zone. Maintaining the $1,500 area has become a big challenge for Ethereum due to the heavy fall in the cryptocurrency market. At the time of writing, each Ethereum unit is trading at $1,550. The price of this cryptocurrency has decreased by about 2% in the last 24 hours.

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Source: finbold

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