September 2022 – Monthly Ethereum Blockchain Analysis
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Key data
- 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 has increased by almost 17% after the Ethereum merger.
- The average Ethereum gas price fell by seven percent in September.
- The average number of unique 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 fell slightly in September.
Ethereum activity index
Ethereum Activity Index shows the activity of users on the Ethereum (ETH) network. It is automatically calculated based on a combination of several factors, such as active wallets on the network, used gas and transaction statistics.
ETH activity index historical chart
The average indicator practically did not change compared to August. In September, the index showed an average of 48 points.
ETH activity index
The minimum value was observed on September 11, 2022, and 43 points.
The maximum value was observed on September 15, 2022, and amounted to 55 points.
The peak value of network activity was reached on September 15, 2022, when the merger of Ethereum was completed on this day, and it switched to a proof-of-stake consensus system.
Ethereum transaction statistics
- The average number of Ethereum transactions per day dropped 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 fell by only 0.1%, reflecting the market’s wait-and-see position. The diagram below shows that the number of transactions in August and September almost completely coincides with the same values in April and May of the current year.
ETH average number of 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 associated with the transition of Ethereum to the proof-of-stake system and the activity of traders.
ETH transactions are peaking
Ethereum block statistics
- The average number of Ethereum blocks per day increased by 5.3%.
- The number of blocks per day has increased by almost 17% after the Ethereum merger.
In September, the “Ethereum average number of blocks per day” chart shows a 5.3% increase in the average number of 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.
ETH average number of blocks per day i
At the same time, the number of blocks per day increased significantly on September 15, 2022, after the transition of Ethereum to the proof-of-stake system. This can be clearly seen in the diagram 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 average daily block size
The “ETH total block size per month” Gb chart shows that the total block size in September was 14.6 Gb, and in August it was 15.7 Gb. The value has decreased by 7.8%.
ETH total block size per month
Ethereum gas price statistics
- The average Ethereum gas price fell by seven percent in September.
In September, the average Ethereum gas price was 17.12 gwei. In August it was 18.31 gwei. The gas price fell by seven percent.
ETH average gas price per month
In September, gas prices continued to fall and broke the low point in August. The minimum value of the gas price in September was recorded on the 17th and was 8.9 gwei. This is the lowest recorded price of gas in the last six months. The minimum value was recorded on the 8th and was 27.02 gwei.
ETH average gas price per day in July
Ethereum new smart contracts statistics
- 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, this figure was 10,714. It increased by 6.5 per cent.
Ethereum Active Address Statistics
- In September, the average number of unique 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 unique active crypto wallets per day on the Ethereum blockchain was 465,072. In August, this number was 477,678, so that is a decrease of 2.7%.
ETH average number of daily active wallets
A similar situation is observed with the average number of daily active smart contracts. This value in August was 26,450. It decreased by 4.6% and was 25,294 in September.
ETH average number of daily active smart contracts
Data-driven conclusions
September is consistently considered to be the worst month for the cryptocurrency market, which is confirmed by the data, since almost all indicators from the number of transactions, to active crypto wallets has gone down a bit.
At the same time, on September 15, 2022, Ethereum merged and switched to the proof-of-stake system, so there was an increase in user activity out even such a large event could not reverse the general trend of declining network activity from month to month.
Olga Ortega is the product manager and co-founder of the real-time DeFi explorer AnalytEx by HashEx. She is a skilled expert in IT, with over 12 years in the development and implementation of large computer systems. Over the years, Olga held management positions in several global organisations, such as the IT giants Google and Facebook. At AnalytEx, she is responsible for driving the project’s development.
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