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Ethereum Address Creation Hits 35Month High

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Ethereum address creation hit a 35month high on December 14 when 177,000 new addresses were added to the network according to analysts from Santiment. The analytics provider reported that its network growth metric showed Ethereum adding 177,500 addresses in a singleday on Saturday, Dec. 12. The number of active addresses also surged on Dec. 14 to 714,081, though its alltime high came during the crypto boom in January 2018 when it topped 1.1 million according to Bitinfocharts.com.

There could be a number of reasons for the uptick in address creation and active addresses in recent months including the surge in DeFi liquidity mining offering good returns with ETH as collateral. The anticipation of staking rewards on the newly launched ETH 2.0 Beacon Chain may have also driven address growth as investors buy ETH to stake on the new blockchain. And of course Bitcoin prices are back near all time highs, helping light a fire under other cryptocurrencies too.

But a Reddit thread about the milestone, discussed the possibility that a token airdrop from Flare Networks for XRP holders was a big contributor to the address creation spike. Flare is a new protocol that intends to bring decentralized finance to the XRP ecosystem by making it compatible with existing smart contracts with the Ethereum Virtual Machine. Redditor SoundofCreekWater said Could be bc of the XRPSparkFlare airdrop, which requires an ethereumcompatible address.

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