blockchain transaction
Number of Active Ethereum Users Increased by Over 36% in Third Quarter of 2022 – Blockchain News, Opinion, TV and Jobs
Published
2 years agoon
By
admin![](https://blocknewsmedia.com/wp-content/uploads/2022/12/ETH-shutterstock_1859143864.jpg)
In times of fear of a WWIII, inflation, recession and energy shortage most of the investment instruments suffer substantial losses. Stocks, gold and mostly cryptocurrencies are greatly affected by the troublesome atmosphere around the world.
With Ether down approximately 64% year-to-date, followed by Bitcoin down approximately 58% year-to-date, BestBrokers analyst team decided to look into blockchain transaction data and find out how this drop affects crypto users in actuality.
The raw data, queried from Dune Analytics clearly shows a great increase in interest in Ether as the number of active Ethereum users rose over 36% in Q3 2022, compared to Q2. Actually, this is the first positive quarter since Q4 2021 when Ether’s price rose to a record all time high of just over $4,890.
![]() |
Alan Goldberg, analyst at BestBrokers comments:
“The Ethereum 2.0 update went live just three weeks ago. It surely brought more interest in the Ethereum network but it cannot justify such a great rise. Other factors have to be taken into account, including the fact that people actually find cryptocurrencies as an investment option and the record lows of Q3 2022 seemed like a bargain to a lot of individual investors.”
The long-awaited Ethereum 2.0 update undeniably had a positive impact on Еthereum user count. However, it was completed so late in Q3 2022 that it is definitely not the only reason for the uptrend. The expectation and the news in mid July, confirming the final update date definitely contributed to the inreased trade, but we also have to take into account the fact that Ether price dropped below the $900 mark in late Q2 2022 and that low price must have looked like a bargain discount to optimistic investors. Since then the price went steady up with a few times touching the $1,000 resistance but made over 100% rise to just over $2,000 in August 2022.
Despite the current price sitting at around $1,360 or somehow around 33% lower than the August heights, Ether had great price swings, typical to most of the cryptocurrencies. After all, the price volatility and high volume are among the factors which drive investor interest into the crypto markets and that is exactly what Ethereum delivered in Q3, clearly showing that the markets have potential to get back on a positive trend.
Alan also adds that the 36% increase in the active users within just 3 months may very well be interpreted as a sign that the crypto markets are getting back on the positive trend. He says, ”The fact that the number of active users is over 14% higher than Q4 2021, when both Bitcoin and Ether prices were at an all time high, only reinforces crypto analysts’ expectations that the markets have a great potential to rise again.”
Source link
You may like
Multicoin Capital To Fund Crypto-Friendly US Candidates In Solana
Multicoin to Match Up to $1 Million in Solana Donations to Pro-Crypto Candidates
Multicoin Capital pledges up to $1m to pro-crypto Senate candidates
MATIC Price Crash: Reaching A Two Year Low
Multicoin Pledges up to $1M for Pro-Crypto Senate Candidates
Crypto heists near $1.4b in first half of 2024: TRM Labs
blockchain transaction
Number of Active Ethereum Users Increased by Over 36% in Third Quarter of 2022 – Blockchain News, Opinion, TV and Jobs
Published
2 years agoon
October 6, 2022By
admin![](https://blocknewsmedia.com/wp-content/uploads/2022/10/ETH-shutterstock_1859143864.jpg)
In times of fear of a WWIII, inflation, recession and energy shortage most of the investment instruments suffer substantial losses. Stocks, gold and mostly cryptocurrencies are greatly affected by the troublesome atmosphere around the world.
With Ether down approximately 64% year-to-date, followed by Bitcoin down approximately 58% year-to-date, BestBrokers analyst team decided to look into blockchain transaction data and find out how this drop affects crypto users in actuality.
The raw data, queried from Dune Analytics clearly shows a great increase in interest in Ether as the number of active Ethereum users rose over 36% in Q3 2022, compared to Q2. Actually, this is the first positive quarter since Q4 2021 when Ether’s price rose to a record all time high of just over $4,890.
![]() |
Alan Goldberg, analyst at BestBrokers comments:
“The Ethereum 2.0 update went live just three weeks ago. It surely brought more interest in the Ethereum network but it cannot justify such a great rise. Other factors have to be taken into account, including the fact that people actually find cryptocurrencies as an investment option and the record lows of Q3 2022 seemed like a bargain to a lot of individual investors.”
The long-awaited Ethereum 2.0 update undeniably had a positive impact on Еthereum user count. However, it was completed so late in Q3 2022 that it is definitely not the only reason for the uptrend. The expectation and the news in mid July, confirming the final update date definitely contributed to the inreased trade, but we also have to take into account the fact that Ether price dropped below the $900 mark in late Q2 2022 and that low price must have looked like a bargain discount to optimistic investors. Since then the price went steady up with a few times touching the $1,000 resistance but made over 100% rise to just over $2,000 in August 2022.
Despite the current price sitting at around $1,360 or somehow around 33% lower than the August heights, Ether had great price swings, typical to most of the cryptocurrencies. After all, the price volatility and high volume are among the factors which drive investor interest into the crypto markets and that is exactly what Ethereum delivered in Q3, clearly showing that the markets have potential to get back on a positive trend.
Alan also adds that the 36% increase in the active users within just 3 months may very well be interpreted as a sign that the crypto markets are getting back on the positive trend. He says, ”The fact that the number of active users is over 14% higher than Q4 2021, when both Bitcoin and Ether prices were at an all time high, only reinforces crypto analysts’ expectations that the markets have a great potential to rise again.”
Source link
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/Multicoin-Capital-Crypto-Venture-Firm-80x80.png)
Multicoin Capital To Fund Crypto-Friendly US Candidates In Solana
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/Solana-Flag_shutterstock_2099118397-gID_7-80x80.jpg)
Multicoin to Match Up to $1 Million in Solana Donations to Pro-Crypto Candidates
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-Corruption-USA02.webp-80x80.webp)
Multicoin Capital pledges up to $1m to pro-crypto Senate candidates
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/Matic-price-hits-All-Time-Low.webp-80x80.webp)
MATIC Price Crash: Reaching A Two Year Low
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/3BZLW3XKLFCSBJVHRVCWSUVUSU-80x80.jpg)
Multicoin Pledges up to $1M for Pro-Crypto Senate Candidates
![](https://blocknewsmedia.com/wp-content/uploads/2024/06/crypto-news-Five-Recent-API-Hacks-in-Crypto06.webp-80x80.webp)
Crypto heists near $1.4b in first half of 2024: TRM Labs
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/SBF3-80x80.jpeg)
FTX Founder Sam Bankman-Fried’s Family Accused Of $100M Illicit Political Donation
![](https://blocknewsmedia.com/wp-content/uploads/2024/06/mt-gox-80x80.jpg)
Bitcoin Price Falls as Mt Gox Starts Repayments
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/a_6a6e66-80x80.jpg)
20% Price Drop Follows $87 Million Spending Outrage
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-Mt-Gox-announced-the-start-of-payments-option03.webp-80x80.webp)
More than 10 years since the collapse of Mt. Gox, users confirm reimbursements
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/Taiwan-Mobile.webp-80x80.webp)
Leading Telecom Company Taiwan Mobile Gets Crypto Exchange License
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/here-are-render-jason-80x80.jpg)
Here Are Price Targets for Bitcoin, Solana, and Render, According to Analyst Jason Pizzino
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-Black-Rock-Bitcoin-option01.webp-80x80.webp)
Bitcoin price plunges below $55k as Mt. Gox announces repayments
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/WhatsApp-Image-2024-07-05-at-08.25.06-1-80x80.jpeg)
Jasmy Sheds 20% Amid Bitcoin Sell-Off
![](https://blocknewsmedia.com/wp-content/uploads/2024/07/crypto-news-internal-revenue-service-IRS-options01.webp-80x80.webp)
Are they a good thing?
![](https://blocknewsmedia.com/wp-content/uploads/2022/06/1656437120_shutterstock_1736086877-80x80.jpg)
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
![](https://blocknewsmedia.com/wp-content/uploads/2022/07/coinbase-shutterstock_1866715066-80x80.jpg)
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
BNM DAO Token Airdrop
![](https://blocknewsmedia.com/wp-content/uploads/2023/03/ETH-NFT-shutterstock_1944183022-80x80.jpg)
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
![](https://blocknewsmedia.com/wp-content/uploads/2022/06/btcsmall-1-1-80x45.png)
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
New Minting Services
![](https://blocknewsmedia.com/wp-content/uploads/2022/10/maxresdefault_live-80x80.jpg)
Block News Media Live Stream
![](https://blocknewsmedia.com/wp-content/uploads/2023/02/SEC-shutterstock_1625495629-80x80.jpg)
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs
![](https://blocknewsmedia.com/wp-content/uploads/2022/08/Green-mining-Shutterstock_1981391501-80x80.jpg)
Friends or Enemies? – Blockchain News, Opinion, TV and Jobs
![](https://blocknewsmedia.com/wp-content/uploads/2022/06/0BK4KOQfADYNvpEKU-80x80.png)
Enjoy frictionless crypto purchases with Apple Pay and Google Pay | by Jim | @blockchain | Jun, 2022
![](https://blocknewsmedia.com/wp-content/uploads/2023/09/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zZmE3ZTQzYzVmNTkwYTA0ZDA1MWZlY2EwZGY4YjA2OS5qcGc-80x80.jpg)
How Web3 can prevent Hollywood strikes
![](https://blocknewsmedia.com/wp-content/uploads/2023/02/maxresdefault_live-80x80.jpg)
Block News Media Live Stream
![](https://blocknewsmedia.com/wp-content/uploads/2022/07/1657766796_maxresdefault_live-80x80.jpg)
Block News Media Live Stream
![](https://blocknewsmedia.com/wp-content/uploads/2023/02/maxresdefault_live-80x80.jpg)
Block News Media Live Stream
![](https://blocknewsmedia.com/wp-content/uploads/2023/07/iStock-1349331161-80x80.jpg)
XRP Explodes With 1,300% Surge In Trading Volume As crypto Exchanges Jump On Board
Trending
- Altcoins2 years ago
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
- Binance2 years ago
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
- Uncategorized3 years ago
BNM DAO Token Airdrop
- BTC1 year ago
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
- Bitcoin miners2 years ago
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
- Uncategorized3 years ago
New Minting Services
- Video2 years ago
Block News Media Live Stream
- Bitcoin1 year ago
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs