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Number of Addresses Holding At Least One Ethereum (ETH) Hits New All-Time High.
Addresses holding at least one ETH have set a new record.
There has been a growing adoption of Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization.
Glassnode, a popular cryptocurrency data analytics platform, noted that the number of addresses holding at least one ETH has recently hit a new all-time high.
Per Glassnode data, the number of addresses holding a minimum of one ETH reached an ATH of 1,560,775 (1.56M) earlier today. The feat represents a 0.0046% surge from the previous all-time of 1,560,703 recorded yesterday.
“Ethereum Number of Addresses Holding 1+ Coins just reached an ATH of 1,560,775. The previous ATH of 1,560,703 was observed on 22 July 2022,” Glassnode stated in a tweet today.
📈 #Ethereum $ETH Number of Addresses Holding 1+ Coins just reached an ATH of 1,560,775
Previous ATH of 1,560,703 was observed on 22 July 2022
View metric:https://t.co/IuKpD48IXd pic.twitter.com/B3c2ijje7e
— glassnode alerts (@glassnodealerts) July 23, 2022
Ethereum Investors Capitalize on Recent Price Crash
The rapid surge in addresses holding ETH suggests that Ethereum investors took advantage of the massive price decline in the coin’s price.
Recall that the price of Ethereum fell below $1,000 following a series of unfortunate events that rocked the cryptocurrency space.
Investors saw the price decline of Ethereum as an opportunity to increase their positions in the crypto asset.
Many Ethereum Investors in Profit
Fortunately, those who purchased ETH when its price was low have started reaping the benefits after its value spiked.
In the last seven days, Ethereum has gone up nearly 30%, according to Coigecko data, currently trading at $1582. 47.1M ETH addresses are enjoying profits at current prices.
“Ethereum Number of Addresses in Profit (7d MA) just reached a 1-month high of 47,115,905.863,” Glassnode tweeted.
📈 #Ethereum $ETH Number of Addresses in Profit (7d MA) just reached a 1-month high of 47,115,905.863
View metric:https://t.co/9t2b8JZ83s pic.twitter.com/1amDWiz54S
— glassnode alerts (@glassnodealerts) July 23, 2022