Ethereum has recorded a significant surge in new wallet creations, adding a staggering 267,000 new wallets to the platform. This recent influx marks the highest number of new wallets recorded in over two years, signifying a massive resurgence in interest in the Ethereum ecosystem by crypto users.
According to Merkle, the news of the record-breaking number of wallets followed the surpassing of the $3000 threshold by Ethereum in the last twenty-four hours as the crypto asset which is currently the second largest cryptocurrency is trading at $3,133.
In other news, An Ethereum Initial Coin Offering (ICO) participant woke up from an almost 9-year dormant period to transfer 1,960 ETH, equivalent to $5.87 million, out of their wallet.
Notably, this individual had initially received 1,969.488 ETH, valued at $5.9 million, during Ethereum’s Genesis ICO period, when the price per ETH hovered around $0.31.
The massive profit and Return on Investment by the Ethereum ICO receiver highlight the positive side of trading cryptocurrencies and the immense wealth that can be created by investing and holding the right coins.
The development captured the unique nature of the Ethereum ecosystem with significant price movements, record wallet growth, and intriguing wallet activities capturing the attention of market participants and analysts alike.
Recommended reading: What could happen to Ethereum in 2024?
What to know
- An initial coin offering (ICO) is an event where a company sells a new cryptocurrency to raise money. Investors receive cryptocurrency in exchange for their financial contributions. It is a popular method for fundraising capital for early-stage cryptocurrency projects.
- The Ethereum blockchain is unique because it enables building and deploying smart contracts and decentralized applications (dApps) without downtime, fraud, control, or interference from a third party. To accomplish this, Ethereum comes complete with its own programming language that runs on a blockchain.
Recommended reading: Bitcoin and Ethereum resurge as interest rate remains unchanged in US
