In a recent tweet by the on-chain analytics firm, Santiment Feed, there have been an additional 135,780 new Ethereum addresses recently created making the total wallet previous record of Jan 3rd by 11.1%.
Ethereum Adds New 135,780 Addresses, Santiment Noted
Santiment noted; “Ethereum saw a surge of new addresses created Saturday, with 135,780 new $ETH addresses popping up on the network,” Santiment tweeted. “This is 11.1% more network growth than the next highest of 2022 (Jan 3rd). Utility rises commonly foreshadow potential asset breakouts.”
However, the Santiment could not explain the reason for the spike although there are some users in the comment that trace it XEN crypto launch on the Ethereum network. The latest crypto project on Ethereum has attracted a lot of attention, with over 100k wallets minting the token. Notably, XEN currently accounts for over 40% of Ethereum’s gas consumption, according to data from Etherscan.
There has been no significant milestone recorded in the Ethereum network at the post-merge. Although this poor performance could be said to be from the decreasing transactions in the market, leaving network inflation at about 0.21% but since the inception of the XEN crypto launch, this figure has decreased to 0.13% point.
Facts About XEN
XEN is a crypto project with no initial supply and no supply cap. It runs on a proof of participation consensus mechanism and allows users to mint tokens by paying gas fees alone.
It is worth noting that Ethereum is trading at the $1,315.97 price point, about 2% up in the last seven days. per the record, there has been a lot of selling pressure in the past weeks with spiked inflow to exchanges. for instance, holders recently sent an additional $216 million worth of Ethereum to exchanges last week as stated by IntoTheBlock insights.