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Ethereum Tests All-Time High as On-Chain Activity Grows, SHIB Burns ETH
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The price of ethereum (ETH) briefly touched a new all-time high on Friday, with key on-chain metrics growing faster than competitors over the past month. Meanwhile, the current meme coin craze is also contributing to ETH’s value proposition, with shiba inu (SHIB) now consuming more gas than even major stablecoins.
At 11:13 UTC, ETH was still up almost 5% over the past 24 hours to trade at USD 4,335, after earlier today briefly reaching north of the 4,400 mark for the first time ever.
The new all-time high (USD 4,416, per Coingecko) came as on-chain data compiled by Kraken Intelligence showed that the number of active Ethereum addresses has grown 5.8% since last month. The growth for Ethereum came as the other smart contract platforms Cardano
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