Ethereum blockchain monthly review - September 2022

Ethereum blockchain monthly review - September 2022

ETH Statistics

  • The number of ERC-20 tokens created on the Ethereum network in September increased by 6.4%.
  • The average number of Ethereum blocks per day increased by 5.3%.
  • The number of blocks per day increased by almost 17% after the Ethereum merger.
  • The average price of Ethereum gas fell seven percent in September.
  • The average number of active crypto wallets per day, as well as the average number of daily active smart contracts, decreased by 2.7% and 4.6%, respectively.
  • The average number of Ethereum transactions per day dropped significantly in September.

Ethereum Activity Index

The Ethereum Activity Index displays user activity on the Ethereum (ETH) network. It is calculated automatically based on a combination of several factors, such as active wallets on the network, gas used, and transaction statistics.

ETH Activity Index - historical chart

The actual average was unchanged from August. In September, the index shows an average of 48 points.

ETH Activity Index: min and max value

The minimum observed value on September 11, 2022 is 43 points.

The maximum value is observed on September 15, 2022 and is up to 55 points.

The maximum value of network activity was reached on September 15, 2022, on which day the Ethereum merger was completed and the transition to a proof-of-stake consensus system was achieved.

Ethereum transaction statistics

  • The average number of Ethereum transactions per day decreased insignificantly

The number of Ethereum transactions in August was 34,908,242 with an average daily volume of 1,126,072 transactions. In September, the total number of Ethereum transactions was 33,741,733 with an average daily volume of 1,124,724 transactions.

Compared to August, the average number of transactions per day in September decreased by only 0.1%, reflecting the market's holdings. The chart below shows that the number of transactions in August and September almost completely coincide with similar values ​​in April and May of the current year.

average ETH transactions per day

The highest average number of transactions in September was made on the 15th, 16th, and 17th, with a peak of 1,322,077 transactions. Such activity is tied to the conversion of Ethereum to a proof-of-stake system and merchant operations.

The Peak of ETH Trading: September 2022

Ethereum Block Statistics

  • The average number of Ethereum blocks per day increased by 5.3%.
  • The number of blocks per day increased by almost 17% after the Ethereum merger.

In September, the “Ethereum Average Blocks Per Day” chart shows a 5.3% increase in average blocks per day. The average number of Ethereum blocks per day in August was 6,332 and the average number of Ethereum blocks in September was 6,665.

Average ETH blocks per day in September 2022

At the same time, the number of blocks per day increased significantly on September 15, 2022, after Ethereum's transition to a proof-of-stake system. This can be clearly seen in the chart below.

ETH blocks per day in September 2022

In September, the average block size was 0.49 Gb. In August, this value was 0.51 Gb. The average size of blocks mined per day continues to decrease.

ETH's Average Daily Block Size

The Gb chart of "total ETH block size by month" shows that the total block size in September was 14.6 Gb and in August was 15.7 Gb. Value fell 7.8%.

Total ETH block size per month

Ethereum gas price statistics

  • The average price of Ethereum gas fell seven percent in September.

In September, the average price of Ethereum gas was 17.12 gwei. In August it was 18.31 gwei. Gasoline prices fell seven percent.

Average ETH petrol price per month

In September, gas prices continued to fall and broke through the low of August. The minimum value of gas prices in September recorded on the 17th was 8.9 gwei. This is the lowest gas price recorded in the past six months. The minimum value recorded on the 8th is 27.02 gwei.

Average price of gasoline ETH per day in July to August 2022

Statistics of new Ethereum smart contracts

  • The number of ERC-20 tokens created on the Ethereum network in September increased by 6.5%.

The number of ERC-20 tokens created on the Ethereum network in August was 10,066. In September, the number was 10,714. It increased 6.5%.

Ethereum active address statistics

  • In September, the average number of active crypto wallets per day, as well as the average number of daily active smart contracts, fell by 2.7% and 4.6%, respectively.

In September, the average number of active crypto wallets per day on the Ethereum blockchain was 465,072. In August, the figure was 477,678, down 2.7%.

Average daily active wallet ETH

A similar situation is observed with smart contracts that operate on average daily. This value for August is 26,450. It fell 4.6% and was 25,294 in September.

Average ETH of daily active smart contracts

Data-driven conclusions

September is consistently considered the worst month for the crypto market, which is confirmed by the data, as most indicators, from the number of transactions to active crypto wallets, are mitigation.

At the same time, on September 15, 2022, Ethereum merged and switched to a proof-of-stake system, so there was an increase in user activity, but even such a big event cannot reverse. reverse the general downward trend of network activity. from month to month.

Oct 13, 2022

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