Ethereum Is Nearing Another Milestone Prior To Merge

In the last year, Ethereum has reached a variety of milestones. With the revelation of a fixed date for the transition to proof-of-stake, often known as the ‘Merge,’ there has been a surge of activity on the network, propelling it to even more amazing milestones. This time, the benchmark is the sum of all currently-used IPv4 addresses.

The pace at which new, different, and unique Ethereum addresses are being introduced to the network has increased dramatically. More than 21 million new IP addresses entered the system in 2022 alone. At around 62,000 new wallets every day, the pace of growth is impressive.

The current count of unique ETH addresses is about 204.6 million. If growth continues at its present pace, the Ethereum network’s total number of addresses will reach 205 million in less than a week, setting a new record.

To put the significance of this milestone into perspective, in 2017 there were only around 18.4 million unique ETH addresses. If ETH addresses expand at the present pace, there would be 220 million by 2022.

When the date of the Ethereum Merge was initially announced, ETH saw a remarkable bull run that pushed its price above $2000. However, with the Merge becoming closer by the day, the crypto market is once again focusing on the cryptocurrency despite the fact that the excitement has gone down and ETH’s price has dropped back to $1,500. The increase in activity suggests that the revived interest in digital assets may result in a surge in demand.

Also Read: The Bank Of Russia Has Agreed To Allow Crypto For International Payments

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