Crypto News

Activation of network users Ethereum ETH leads to the update of the highs

This week for the first time since mid-2018 the largest Aldon ether (ETH) exceeded $400.

Researchers from the team Glassnode believe that the coin is the highs, due to the increased activity of users on the network Ethereum.

The number of addresses, who make daily transactions now exceed 482 000. This is the highest rate since the middle of last year, with the period of the famous June rally ETH.

From January 2020 there is a steady correlation between a growing number of active Ethereum and cryptocurrency prices, analysts stress.

The index of correlation between these two indicators is 60.9%. Last year he exceeded 76%. It was found that if the number of active addresses on the Ethereum increases the day by 1%, over the same time altcon more expensive by about 0.18%.

Today the air is trading just below $400, ETH fell back in a correction after its recent spurt. However, many analysts believe that the potential for the resumption of the rally has not been exhausted.

Earlier this week, the exchange BitMEX CEO Arthur Hayes wrote on Twitter that the largest Aldon needs in the short term to beat the record for the year and to exceed $500.


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