Ethereum Activity Grows as Gas Price Spikes 29% in January

• Ethereum’s average gas price increased by 29.27% in January 2023
• Daily Ethereum transaction data showed a slight decrease of 0.8% from December to January
• The total Ethereum block size per month for January was 17.24 GB, up 7.08% from December’s 16.1GB total

Increased Activity on the Ethereum Blockchain

Ethereum block statistics show that the average number of blocks mined each day showed little to no change, while the total block size per month increased by 7%. This indicates “increased interest of both current and new users,” according to Analytex’s data report for January 2023.

Gas Price Spikes

The report noted an increase in user activity as a key indicator for the rise in average gas price from 19.2 gwei to 24.82 gwei month-on-month, representing a 29.27% increase on Ethereum’s gas prices compared to December 2022 figures.

Decrease in Unique Active Wallets

The number of unique active wallets across the network decreased by around 10%, with an average figure of 387,475 daily unique active wallets being counted over the past six months – this being the lowest recorded figure during this period.

Rise in Smart Contract Activity

Meanwhile, smart contract usage increased by 6.74%, indicating that more users have adopted decentralized applications (dApps) on top of Ethereum technology over recent weeks and months – potentially indicative of renewed investor interest following 2022’s bearish sentiment in cryptocurrency markets overall.

Stable Block Data

Following the Merge, daily average block data has been stable at around 0.01% monthly; with a total Ethereum block size per month for January standing at 17.24 GB – representing a 7.08% increase on December’s 16.1GB figure

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