Published on September 15, 2023 00:00 GMT+00:00edited on September 15, 2023 00:04 GMT+00:00

On-chain data shows the Ethereum daily active addresses indicator has recently registered its second-highest spike.

Ethereum Daily Active Addresses Has Observed A Sharp Spike Recently

According to data from the on-chain analytics firm Santiment, the active addresses metric only achieved a higher value in December 2022. The “daily active addresses” indicator measures the daily total number of unique Ethereum blockchain addresses that interact in some way.

This metric naturally accounts for both senders and receivers. Note that “unique” means that even if an address makes several transactions in a single day, its contribution towards the active addresses metric will remain just one unit.

The benefit of this restriction is that unique addresses can be considered analogous to unique …