The latest findings from Glassnode, a trusted on-chain metrics monitoring platform, indicate a notable surge in the quantity of ETH token holders. The data aggregator reports that the number of wallet addresses containing a minimum of 0.01 ETH Coins has hit an impressive eight-month peak of 23,386,372.
Glassnode’s data exclusively pertains to Externally Owned Addresses (EOAs) and does not encompass contracts.
The resurgence of ETH has been a standout narrative in the world of cryptocurrency in 2023. Alongside Bitcoin, Ethereum has spearheaded the digital asset rally this year. ETH is trading at $1,754, representing a remarkable 46.11% gain since the start of the year.
One of the key drivers behind Ethereum’s surging popularity among crypto enthusiasts is the highly anticipated Shanghai upgrade. This protocol adjustment will enable users to unstake their staked ETH effortlessly, thereby freeing up tokens previously locked up for validation purposes on the Ethereum network. This development is poised to impact the crypto landscape significantly and is closely watched by industry experts and investors alike.
The highly anticipated Shanghai upgrade is awaiting an official release date, with industry insiders speculating it will take place in April 2023. This upgrade marks a significant milestone for the Ethereum network, as it will be the first major change since the successful implementation of the Merge. The Merge saw Ethereum’s protocol shift from a Proof-of-Work (PoW) consensus algorithm to a more energy-efficient Proof-of-Stake (PoS) algorithm. As the Ethereum community eagerly awaits the Shanghai upgrade, all eyes are on the network’s continued evolution and growth.
The forthcoming Shanghai upgrade promises to revolutionize the staking process for ETH enthusiasts, granting them unprecedented flexibility and autonomy over their tokens. This highly coveted feature has emerged as a key drawcard for ETH stakers, who have clearly preferred this innovative staking model over the more rigid options offered by other blockchain networks.
The Shanghai upgrade brings forth a plethora of advantages, including the acceleration of transaction speeds for Ethereum network users, coupled with reduced gas fees. These enhancements are set to elevate the overall user experience, making it more seamless and efficient.
