Ethereum [ETH] traders going long must know these Q3 stats
Cryptocurrency research platform Messari, in a new report, assessed the performance of Ethereum [ETH] in Q3 2022. Titled “State of Ethereum Q3 2022,” Messari found that the blockchain witnessed an uptick in activity on the network in Q3 over the last quarter. However, the network also logged some sectoral declines and suffered a general drop in revenue due to the activities of Layer 2 scaling solutions.
In that case did ETH witness some actual growth?
According to Messari, the average daily transactions over the quarter reached a total of 1.2 million. This was a 6% increment from Q2 of 2022. The uptick in daily transactions was seen in ETH transfers and DeFi transactions, which according to the report, grew by 7% and 14%, respectively, over the quarter.
Source: Messari
Furthermore, growth in average daily transactions culminated in increased active addresses on Ethereum over the quarter. The network saw 550,000 daily active addresses, representing a 5% growth from the previous quarter.
According to Messari, the general rally in active addresses on Ethereum resulted from the surge in active addresses on 27 July. This was also when Chandler Guo announced plans for an Ethereum PoW fork and some “maintenance activity” from Binance.
Source: Messari
Over the quarter, Messari found that ETH supply grew by 0.7% or 4.2% annualized. Messari further found that since the official target block difficulty for the merge was set in July, ETH call volume rallied steadily across exchanges.
Additionally, the ratio of calls to puts also went up. According to the report:
“The ratio of calls to puts also increased. The strike prices for these calls was largest at the $5,000 level for the September 30 expiry and $2,500 for the December 30 expiry.
Read more on ambcrypto.com
