Despite Falling Prices, Ethereum’s Daily Account Total Witnesses An Increase

As many of our regular readers probably already know, intense bearish market conditions have persisted since the start of 2018. However, over the past few weeks, things seem to have worsened— with the price of ETH dropping to around $100 just a few hours back.

However, despite all this, newly acquired information from Datalight clearly shows that the number of new accounts being created on the Ethereum network has been on the rise recently.

https://twitter.com/DataLightMe/status/1092979079807188992

As can be seen from the above displayed chart, Ether’s native hashrate has been reduced by half over the span of just six to seven months. According to some tech experts, this drop has primarily occurred due to the following reasons:

For those of you who may not be aware of what the word ‘Hasrate’ means, it is essentially a term that is used to describe the speed at which miners are able to solve complex codes that are needed to verify transactions as well as mint new coins. In addition to this, it is also worth pointing out that the ‘Hashrate’ of a network is affected by a number of different factors including the number of miners, incentives etc.

In closing out this article, it is worth pointing out that over the course of the past 24 hours, nearly all of the digital currencies placed in the top-10 (by total market capitalization) have remained in the ‘green-zone’. To be even more specific, Binance Coin (BNB) has witnessed gains of more than 15% since yesterday afternoon — thus allowing the altcoin to dethrone Bitcoin SV from its current spot.

It now remains to be seen how the future of Ether plays out from here on out— especially following the release of the Constantinople update that is slated to take place on the 26th of this month.

Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and EOS Price Analysis Watch (Feb 7th)

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