Earlier this week, Reddit launched the Gen4 Avatar collection. This was my first experience with the Reddit Shop, and I also bought one on OpenSea. Using the Reddit Shop is really easy and user friendly. You got to give it to them, it doesn’t feel like a crypto transaction ! I found a Egypt themed…
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During a recent interview with Bloomberg Wealth, Novogratz touched on topics ranging from investing to Ripple’s case and Larry Fink.
Ethereum is currently the leader in decentralized finance, non-fungible tokens, and smart contracts, and it continues to maintain its position as the dominant cryptocurrency in the altcoin market. This has led to Ethereum having the highest rate of creation of new addresses when compared to the other blockchains. However, data suggests most of these new addresses are dumped just after a few days. New Ethereum Wallets Are Used for Only a Short Time Ethereum is second to Bitcoin in terms of unique addresses. Ycharts estimates put the number of unique addresses on the Ethereum network to around 239.62 million. However, on-chain transaction data shows that if you’ve just created a new Ethereum wallet, chances are you won’t be using it for long. Related Reading: Court Filing Suggests FTX’s $2 Billion Lawsuit Against Genesis Is Coming To An End According to crypto data analyst Jack Gorman, over 70% of new Ethereum wallets are used for less than 30 days before the owners stop transacting completely. While taking to a customized graph on Dune Analytics, a blockchain ecosystem analytics platform, the data analyst noted the rate of creation and abandonment of new Ethereum addresses. The data show that Ethereum has one of the highest rates of new addresses, with 2 million new wallets per month. In the past year alone, more than 26.69 million wallets were created. However, most new addresses display minimal activity, with 66% only active for one day and 95.5% being active for less than ten days. For instance, in May 2023, 2.41 million addresses were created, with only 6.91% making transactions after 30 days. ETH price sitting at $1,876 | Source: ETHUSD on Tradingview.com Overall, monthly active addresses total around 4.5 million to 7 million. This means that most wallets don’t last long, and only 1.9 million are active for more than 10 days. Fewer addresses are used frequently and long-term, with only 400,000 addresses completing more than 100 transactions in the past year. Why Are There So ETH Addresses? Ethereum has had one of the most impressive adoption rates in recent years. The creation of new addresses provides valuable insights into improving adoption and longevity, and the creation and abandonment of addresses can be traced to airdrop hunters. Airdrop hunters create multiple addresses with the sole aim of farming ERC-20 tokens from airdrops. Related Reading: Shiba Inu Reclaims 14th Spot In Market After 5% Jump While the retention rate of new wallets is really low, Ethereum is blessed with various holders, including smart contract addresses and centralized exchanges. The Eth2 Beacon Deposit Contract has the largest address, boasting more than 27.6 million ETH and a 22.9% stake in the network. Featured image from iStock, chart from Tradingview.com
I always wanted an AI assistant that can carry out different tasks on my cryptocurrency portfolio and I’m stocked to share with you this little tool that I’ve built. CryptoCurrency GPT is open source AI assistant that expands the functionality of ChatGPT by incorporating additional features such as: Access to live market data as…
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Hi everyone. Recently I have been trying to be more conscientious in terms of thinking about and preparing for the future. As I am in this sub I guess you can tell building a position in various cryptocurrencies is one of the ways I am trying to do that, as I'm optimistic about the future…
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The Whitepaper – 27 Nov 2013 Ethereum was initially described in late 2013 in a whitepaper by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine, that described a way to build decentralized applications.He argued that Bitcoin and blockchain technology could benefit from other applications besides money and that it needed a more robust language…
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BTC price action is “slower than ever” this weekend, but Bitcoin market participants are keenly waiting for a monthly MACD cross to confirm.
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https://medium.com/@jamesdoejr/from-the-shadows-to-the-light-a-journey-through-the-eras-of-web3-5a84a279b7c1 In the annals of digital history, the genesis of Web3 lies in the visionary concepts of Sir Tim Berners-Lee and his groundbreaking idea of the Semantic Web. Did he know that this spark of innovation would ignite a revolution that would reshape the very fabric of our physical, social, and economic existences? As Web3…
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Python libraries that can interpret and explain machine learning models provide valuable insights into their predictions and ensure transparency in AI applications.
