The Ethereum network continues its expansion in the crypto market. The bear market has not affected the platform, which recently surpassed 200 million registered addresses.
This number represents significant growth in recent weeks. By early June 2022, the network had more than 207 million addresses.
Even with the market in a major devaluation, the Ethereum network is growing. In recent weeks, it has averaged 500 thousand new addresses created every seven days.
In 2022 alone, about 50 million addresses were created on the network, representing a 33% growth over the past six months. However, the increase in new addresses has not been directly reflected in the price of the ether (ETH).
Currently, the ether is trading at around US$ 1,100 on the market. This represents a drop of almost 80% in price, considering the altcoin’s all-time high at the end of 2021.
The growth of new addresses is one of the only indicators of the ethereum network that has increased in the last half of the year. For example, the total value locked (TVL) in ether had a 35% drop in May 2022.
The dominance of ether has dropped significantly in the crypto market. The total capitalization volume of ether has also decreased while new addresses have risen. Now, the altcoin’s capitalization stands at less than 15 %, a rate that has not been seen since October 2021.