Ethereum On-chain Activity Growing

Ethereum smart contracts dropped during bear season. Other blockchains experienced the same.

CryptoQuant analyst Easy OnChain reported good news. The analyst noted that ETH smart contracts increased on October 9th.

During bear season, the analyst suggested reducing smart contracts. Because of the crypto market, no developers wanted to launch dApp projects.

Developer optimism is shown by smart contract growth. Analyst:

Developers now trust the crypto market and Ethereum network activity.

Ethereum To Cross $3000 By 2023

Post-Merge Ethereum on-chain activity has increased. In October, Ethereum added over 86,945 addresses per day.

These data show the network is growing and adding users. Unfortunately, post-Merge Ethereum has yet to reach $2000.

Ethereum's market cap rose $20 billion this week. The coin price rose above $1,500.

Since the Merge, the token has never exceeded $1,500. Analysts predict a 2023 token price above $3,000.

Ethereum remains the second-largest crypto by market cap. Coinmarketcap values ETH at $185 billion.

Google Cloud is also helping Web3 developers. They can create new blockchain products with this support.

Blockchain technology has also become popular. This technology is transforming data storage and transfer.

Google Cloud launched Blockchain Node Engine last week. It helps Web3 developers build and launch blockchain products.

Google Cloud claims the tool will improve Web3 development. It supports Ethereum first. Thus, blockchain developers could secure Ethereum node network access.