ETH/USD has been doing better than BTC in recent days. Indeed, while BTC is up 2.26% in 24 hours and 1.64% in a week so far, etherium is up more than 4% since yesterday and nearly 8% in seven days.

However, much of that gain was achieved in less than 30 minutes last night, as ethereum rose from $1215 to $1280 between 1:20 and 1:50 a.m. European time, that is more than 5%.

Now Etherium is down slight to $1265, but it still retains most of yesterday’s gains.

While the reasons behind ETH’s outperformance over BTC remain unclear, there is some evidence that the situation may continue, and that etherium could significantly extend its gains.

Indeed, a blockchain data analytics company said in a tweet yesterday that the number of active etherium addresses reached a six-week high on Monday, suggesting that this could explain the cryptocurrency’s rise.

The company also noted that the last time ETH active addresses reached such levels (October 15), the price of Ether rose 30% in 3 weeks.

In another tweet on Wednesday, the company noted that the number of etherium addresses containing 100-100,000 ETH had reached a 20-month high, suggesting that funds are accumulating that could support growth.