The number of active Ethereum addresses has reached a 2-year single-day high amidst the ongoing popularity of decentralized finance (DeFi) products. 

According to research published by crypto analytics firm Santiment, the number of daily addresses interacting with ethereum spiked on June 29, culminating in a 2-year single-day high of 486,000 unique addresses. The previous high was established on May 5th, 2018 amidst another surge in ethereum activity. 

Ethereum’s growing popularity has largely been attributed to the rising interest in DeFi products. According to data aggregator DeFi Pulse, the total amount of value locked in DeFi has surpassed $1.4 billion, with ether accounting for the majority. The amount of ETH locked in DeFi reached 3.1 million on June 29, up from 2.62 million at the start of the month. 

Despite the popularity of DeFi, some in the crypto space are concerned it may lead to unintended consequences. Waves CEO Sasha Ivanov warned last week that the surge in DeFi interest could lead to another “ICO bubble.”

He said, 

DeFi is the future, but it’s going to be coming through a bubble part of the cycle now, which can harm its long-term development.

Featured Image Credit: Photo via

Posted in ,

American Crypto Association Exclusives!

Bookmark the site and sign up for relevant alerts, trading tips, masternode updates and important news hosted within our exclusive newsletter. Valued at $3,588, we are offering this service free for one year!

Get onboard now!

Exclusive Newsletter!

Sign up for exclusive trading tips, masternode updates and important news hosted within our newsletter!
Terms and Conditions checkbox is required.
Something went wrong. Please check your entries and try again.
Scroll to Top