Reports suggest the increased interest of current blockchain users and smart contract developers in Ethereum.
Though the average number of blocks of Ethereum mined each day showed a minor change, the total block size per month increased by 7%.
According to a data report by a leading IT analytical company, Ethereum’s average gas price for the month of January this year spiked by 29.27%. The average gas price has been calculated in terms of the smallest Ether denomination, Gwei.
The report compares gas prices from January to December 2022 and finds an increase in user activity as a key indicator of average gas prices rising from 19.2 GMU month-on-month to 24.82 GMU month-on-month.
The report also notes that his average number of unique active Ethereum wallets per day has dropped by about 10% to 387,475, the lowest in the past six months. Meanwhile, the average number of unique and active smart contracts increased by 6.74%.
As shown above, other key metrics measured included his daily Ethereum transaction data, which showed a meager 0.8% decline from December to January. According to the report, the average number of Ethereum transactions per day has been declining for eight months. The report highlights various data metrics across the board. The number of transactions and unique active wallets decreased from December. The Ethereum Activity Index also showed an increase in the number of active smart contracts and average gas cost prices.
Ethereum’s upcoming Shanghai upgrade is also driving staking on DeFi as withdrawals from Ethereum staking contracts are expected to begin. Lido Finance made Maker DAO his largest DeFi protocol in January. This is a result of the popularity of liquid staking derivatives protocols.
Also, read- Bank of England is 'Fine' With Co-Existence of Private Stablecoins with ‘Britcoin’
