Source: Glassnode
In accordance with its mean transaction volume, Ethereum’s network growth appreciated as well. A spike in network growth would suggest the number of new addresses that transferred ETH for the first time had increased substantially. However, during this period, Ethereum’s velocity declined. This indicated that the frequency at which ETH was being exchanged between addresses had decreased. The total NFT trade volume also fell, suggesting a decreasing level of interest in them.It remains to be seen whether the spike in APR would attract more people to buy ETH for staking purposes.
At the time of writing, ETH was trading at $1,229.56 and had depreciated by 1.29% in the last 24 hours. However, its volume had appreciated by 28.68% during the same period, according to
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