It can be said that February is a very positive month for cryptocurrencies. In terms of market volume, Bitcoin (BTC), the market’s leading cryptocurrency, rose 9% to $10,450. When we look at the altcoin market, almost all of the top 10 altcoins performed well like Bitcoin and experienced double digit rises. Ethereum (ETH), one of the cryptocurrencies closely monitored by the crypto community, was the best valued cryptocurrency of the month, performing better than Bitcoin (BTC) and other altcoins.
Ethereum, the second largest cryptocurrency in terms of market volume, seems to have attracted the attention of investors while drawing a good graph during February. The popular cryptocurrency, which managed to stay in the green for the past week, has experienced a 24% increase. After the rise, it reached from $230 to $230.52. Continuing its steady rise since the beginning of the week, it may find itself buyers at $264.51 as of February 13.
Number of Active Ethereum Addresses Increases
With the price rising, there is an increase in different indicators of Ethereum. An increase of 21.5% has been observed in active Ethereum (ETH) addresses since last week. Along with this, the total number of transactions increased by 13.2%. Looking at these two important indicators, everything seems to be going smoothly for Ethereum.
Similar situation for Bitcoin and other altcoins
In Bitcoin, which is seen as the flagship of the market, there was a serious increase in the number of newly created addresses. Bitcoin has been experiencing this increase since April of last year.
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The most serious increase in the number of active addresses was XRP. The cryptocurrency, which achieved a 396% increase, did not have the expected effect on the number of transactions made. The number of transactions with XRP has increased by only 5.9%.
This interest on cryptocurrencies gives signals for a positive future. It is a matter of curiosity how cryptocurrencies will go along with the new players on the market.