While investors of small scale continue to pour into Ethereum’s stock, the remaining supply of Ethereum (ETH) that was active seven years ago has not been sold.
Ethereum Whales Wallets are Inactive
Glassnode’s data aggregator shows that small investors are active in acquiring Ethereum. This makes it the second most valuable crypto, and 7.6 millions ETH remain unsold.
Five and seven years back, the Ethereum supply holders who moved their crypto last time were five- to seven years respectively. According to Glassnode, 2017 and 2015 saw a three month high.
This current supply is 7,666,690.968 Ethereum ($21,557.791,247).
? #Ethereum $ETHThe Supply of Last Active 5y-7y has just hit a three-month record of 7,666,690.968 Ethereum
View metric:https://t.co/IEN283QP0E pic.twitter.com/8HecOSXB3G
— glassnode alerts (@glassnodealerts) February 28, 2022
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You continue to accumulate small addresses
Data from derivatives shows that investors are still cautious despite the fact that Ether’s (ETH) price has increased by more than 20% since its February 22nd low of $2,300. Ether’s price has dropped by 24% this year, and critical overhead resistances lie ahead.
High network transaction costs have been Ethereum’s most pressing issue, and investors are growing concerned that this will continue to be an issue even after the network’s long-awaited enhancements are implemented.
Trading USD/ETH starts at $2.9k TradingView
Glassnode reports that smaller investors have been steadily accumulating Ether in small increments, such as 0.01 ETH or 0.1 ETH for 10 ETH or 32 ETH respectively.
The number of wallets holding these amounts of Ethereum has reached new highs – 0.01+ coins – 21,929,193 ATH, 0.1+ ETH – 6,960,421 ATH, 10 ETH+ – 280,792 coins – one-year high. 32 ETH+ – 107,876 ETH+ – one-month high.
? #Ethereum $ETHThe number of addresses holding 32+ coins has surpassed 107,876 for a one-month record
On 23 February 2022, a 1-month-old record was reached at 107.860
View metric:https://t.co/rkRWanL3OS pic.twitter.com/4KA8lTQ5Vc
— glassnode alerts (@glassnodealerts) February 28, 2022
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Featured Image from Pixabay. Chart by TradingView.com
