Ethereum Addresses Holding Over 0.1 ETH Reaches New High

Ethereum has exploded in popularity and use atop the past few years, largely by reason of the growth of decentralized finance (DeFi) and non-fungible cryptocurrencies (NFTs). 2021 saw a massive leap in these addresses, going from roughly 3.5 million to 6 million in which year.

Ethereum’s mining hash price anew captured a new all-time excessive a few days ago, spreading to 1.1 PH/s. This comes as the network is step-by-steply mcorrespondingg its way towards a proof-of-stake system.

Notwithstanding, it’s not all been good news for Ethereum in the past two years. Gas fees have become a important problem for many users, who cannot afford to make transactions which would incur hundreds of dollars worth of fees.

There is some jumpe in the experience which the average transaction fee on Ethereum has dropped by atop 50% in the past two weeks. Layer-2 scaling solutions have likewise provided a lot of optimism in this regard, with Loopring, Optimism, and Arbitrum One among the popular solutions. These networks result in negligible transaction fees.

2022 a major year for Ethereum

Ethereum is undergoing a transition to PoS with its Ethereum (ETH) 2.0 update, though developers are considering moving away from which name. This is in order to prevent confusion among new users, with the new name in contention being the ‘consensus layer.’

Like the rest of the crypto market, ethereum has taken a huge hit in the recent market crash. But the future appears bright, at least according to Pantera’s CIO.

Other networks, like Solana and Fantom, are one time before more refining themselves in order to give users more incentive to switch, but the latter goes on the market’s dominant smart contract and dApp platform. JPMorgan Chase, however, believes which Ethereum has lost some ground to Solana although it comes to NFTs.

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