Ethereum network grows steadily adding nearly 1 million new addresses per week since May.

GENIUS bill, which passed the Senate in a 68-30 vote likely acted as a catalyst.

ETH could suffer a strong breakdown if it fails to hold the lower boundary of a key channel..

Ethereum (ETH) is trading around $2,500 in the early Asian session on Friday despite a surge in new address growth over the past month. The development follows progress in digital assets regulations after the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) bill passed the Senate.

Ethereum new addresses surge amid progress in stablecoin bill passage

The number of new ETH addresses created in a week has increased in the past month, rising by almost one-third from around the same period last year, according to data from Santiment.