Ethereum Sees User Doubling with Influx of New Wallets, Reports Glassnode

Cryptocurrency analytics firm Glassnode reported on the 16th that the number of new users on the Ethereum (ETH) network has surged, with the 'activity retention rate' for new cohorts nearly doubling over the past month. This sharp rise in monthly activity retention rates indicates a significant influx of addresses interacting with the network for the first time in the last 30 days.

According to the firm, this is not merely activity by existing participants but reflects a significant influx of new wallets joining the Ethereum network. The new activity retention rate, that is, new network addresses, has increased from just over 4 million this month to approximately 8...