Ethereum (ETH) Network Expansion Fuels Surge Above $3,200 Mark

• Ethereum rebounds above the $3,200 mark, recording its highest single-day growth in nearly 19 months.
• Despite a current price drop, the creation of a large number of new addresses indicates an influx of new participants or renewed interest from existing ones.
• From a technical analysis perspective, Ethereum is facing an important level, with the potential for a bullish reversal if conditions align favorably.

Ethereum rebounds above $3,200, recording its highest single-day growth in nearly 19 months, despite a current price drop. The creation of a large number of new addresses indicates an influx of new participants or renewed interest, suggesting potential for a bullish reversal.

Ethereum Rebounds, Records Significant Network Growth

As Ethereum rebounded above the $3,200 mark this weekend, the network experienced a significant surge in activity. On May 4, 2024, an impressive 196,000 new Ethereum addresses were created, marking the largest daily increase since Oct. 8, 2022. This spike in network growth is a bullish signal, suggesting a strong and increasing interest in Ethereum.