On January 22, the second major cryptocurrency, Ethereum, started the day at $1,626.68. It reached a high of $1,635.64 and a low of $1,609.35. ETH/USD is trading at $1,625.85, down 0.84% in 24 hours. Furthermore, the price has increased by about 5% in a week.
picked active ethereum addresses
The number of Ethereum addresses with more than zero balance continues to grow. According to data from Glassnode, Ethereum reached a new all-time high of 92.5 million addresses this week.
The number of unique addresses transferred as a recipient or sender is represented by active addresses. This includes only those who have successfully completed the transaction.
Recently, there has been a significant increase in the number of active addresses on Ethereum. This indicates that Ethereum users are running programs on the network rather than just holding them in their wallets.
ETH/USD could benefit as Ethereum network activity and usage reach new all-time highs.
Shanghai Upgrade Concern Developers
The Shanghai upgrade, the next scheduled Ethereum blockchain update, will happen in March 2023. The upgrade will make it easier to gradually remove stale ETH older than two years from beacons.
All indications are that Shanghai will be ready to launch in March. However, a vocal minority of Ethereum’s core developers have recently begun to raise concerns about the rapid implementation of the upgrade.
He said it was being imposed too early to avoid a backlash from the public and at the expense of technology investments that would harm the network in the long run.
Mika Zoltu, a network core developer, and some of the network’s other 30 or so core developers are concerned that a recent decision to abandon a technical change in Shanghai could expose Ethereum to excessive technical debt, with unknown long-term consequences. .
On January 19, Zoltu expressed concern about the all-core developers call, saying that it appeared they were not thinking about the long-term viability of Ethereum. The news is not favorable for the price of ETH/USD.
Ethereum smart contract deployment
Jan 17 Blockchain Software Development Company alchemy released Its Q4 2022 Web3 Development Report. The report states that the number of smart contracts executed on the Ethereum mainnet climbed by 300% in 2022.
Additionally, the growth in smart contract implementation roughly mirrored the growth rate seen in 2021, despite a weak 2022 market. According to the analysis, by the end of Q4 2022, there were 4.6 million active smart contracts on the Ethereum blockchain.
In addition, the number of smart contracts deployed on Ethereum’s Goerli testnet grew 187% in the last three months of 2022 and grew 721% year-over-year to an all-time high of 2.7 million.
This indicates that additional decentralized applications (DApps) may soon hit the market. Therefore, the increase in smart contracts is driving the ETH/USD price higher.
Ethereum Price Prediction
In the last 24 hours, the price of Ethereum was at $1,625 with a trading volume of $8 billion. The ETH/USD pair faced a key resistance near $1,680 and declined to find support at $1,610.
On the 4-hour time frame, the ETH/USD pair has formed an ascending channel, indicating a likely continuation of the bullish trend in ETH.
On the plus side, rising demand could push Ethereum below the $1,680 resistance and propel the price towards $1,750. On the downside, a downside break below $1,600 could extend the selling trend towards $1,560.
Apart from Ethereum, the Meta Masters Guild pre-sale has huge upside potential.
Meta Masters Guild (MEMAG)
in a few days, meta masters guild increased from $200,000 to $550,000. This significant growth implies that the public has a high degree of confidence in the future prosperity and ability of the company to generate profits.
The Meta Masters Guild will release its first mobile game in the third quarter of 2023. The MEMAG network has been operational for some time and allows users to produce and manage their own coins as well as trade them on the open market. They are also working on games in which participants can earn rewards, as well as games powered by Web3, an Ethereum-compatible technology.
Investing in MEMAG currently starts with the purchase of $10 in MEMAG tokens. If you engage in pre-sales you will receive a token for a percentage; Early investors will have a limited chance to participate.
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