06-27-2022, 05:19 AM
Active Ethereum Addresses Drop to 28,149
<p>Just like Bitcoin, Ethereum witnessed a sharp decrease in value in the past few months. The world’s second most valuable crypto asset touched a low of almost $850 during the recent market sell-off. As a result of the crypto winter, the total number of active Ethereum addresses has now reached 28,149, which is the lowest level since January 2021.</p><p>The overall number of dormant ETH addresses has increased during the same period. The supply of ETH spent more than 5 years ago has reached an all-time high of 10.12 million. Additionally, data from Glassnode shows that the ETH network witnessed a sharp decline in the number of transactions.</p><p>“Number of ETH transactions (7d MA) just reached a 20-month low of 40,691.060. The previous 20-month low of 40,691.893 was observed on 10 June 2022,” Glassnode noted in a recent Tweet.</p><p>After a massive correction during the first three weeks of June, ETH stabilized above the price level of $1,000 in the past few days. In the last six days, Ethereum climbed by more than 20%. The digital asset is now trading near $1,200.</p>Ethereum Network<p>In its recent crypto market report, Glassnode highlighted a sharp dip in ETH’s market dominance.</p><p>“Like Bitcoin, all investors who purchased Ethereum in 2021-22 are now currently all holding an unrealized loss. A great proportion of this downside was driven by a large scale deleveraging in the DeFi ecosystem,” Glassnode noted.</p><p>“Ethereum dominance has been in notable decline since the Nov 2021 ATH and is close to the inflection point which has historically preceded a longer-term period of Bitcoin out-performance. This highlights the aggregate state of general risk-off sentiment in the market, where ETH under-performs BTC and both tend to under-perform the US Dollar,” the report added.</p><p>Institutional outflows from ETH investment products reached record highs during the first five months of 2022.</p>
This article was written by Bilal Jafar at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...-to-28149/
<p>Just like Bitcoin, Ethereum witnessed a sharp decrease in value in the past few months. The world’s second most valuable crypto asset touched a low of almost $850 during the recent market sell-off. As a result of the crypto winter, the total number of active Ethereum addresses has now reached 28,149, which is the lowest level since January 2021.</p><p>The overall number of dormant ETH addresses has increased during the same period. The supply of ETH spent more than 5 years ago has reached an all-time high of 10.12 million. Additionally, data from Glassnode shows that the ETH network witnessed a sharp decline in the number of transactions.</p><p>“Number of ETH transactions (7d MA) just reached a 20-month low of 40,691.060. The previous 20-month low of 40,691.893 was observed on 10 June 2022,” Glassnode noted in a recent Tweet.</p><p>After a massive correction during the first three weeks of June, ETH stabilized above the price level of $1,000 in the past few days. In the last six days, Ethereum climbed by more than 20%. The digital asset is now trading near $1,200.</p>Ethereum Network<p>In its recent crypto market report, Glassnode highlighted a sharp dip in ETH’s market dominance.</p><p>“Like Bitcoin, all investors who purchased Ethereum in 2021-22 are now currently all holding an unrealized loss. A great proportion of this downside was driven by a large scale deleveraging in the DeFi ecosystem,” Glassnode noted.</p><p>“Ethereum dominance has been in notable decline since the Nov 2021 ATH and is close to the inflection point which has historically preceded a longer-term period of Bitcoin out-performance. This highlights the aggregate state of general risk-off sentiment in the market, where ETH under-performs BTC and both tend to under-perform the US Dollar,” the report added.</p><p>Institutional outflows from ETH investment products reached record highs during the first five months of 2022.</p>
This article was written by Bilal Jafar at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...-to-28149/