Ethereum Network Thriving Despite Price Stagnation
While the price of Ethereum has remained stagnant, the network itself is experiencing significant growth, as reported by crypto analytics firm Santiment.
Santiment recently shared on X that “the utility and growth of the network continues looking healthier than ever.” The firm highlighted that the number of new weekly ETH addresses created is consistently between 800,000-1 million, showing a substantial increase compared to the previous year.
At the time of writing, ETH is trading at $2,421, with a slight decline of more than 3.5% in the past day.
Tron Gaining Social Media Attention
Despite Ethereum’s network growth, Santiment also noted that Tron (TRX), a different layer-1 project, has been dominating the social media conversation recently.
Discussions surrounding Tron’s blockchain, deflationary tokenomics, staking options, and role in stablecoin transactions, particularly USDT on Tron, are gaining traction. Tron is also being recognized for its potential NASDAQ listing, involvement of notable figures, and growing ecosystem in DeFi, NFTs, and dApps.
TRX is currently trading at $0.273.
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Image Credit: Midjourney