Individual investors continued to buy ETH while the whale population dropped to its lowest level in 3 years

Individual investors continued to buy ETH while the whale population dropped to its lowest level in 3 years


2021-03-23 04:25:39

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While addresses holding at least 1,000 ETH have been steadily decreasing over the past few months, the number of small wallets has risen to new all-time highs.

Interest from individual investors in Ethereum has been steadily increasing over the past few weeks. Besides, the total value is locked in the deposit contract ETH 2.0 has also hit new ATH levels with over $ 6.2 billion ETH.

The Ethereum network, the underlying technology behind the recently booming cryptocurrency sectors – NFT and DeFi – has seen a significant increase in activity since the mid-2020s.

As expected, ETH investors have also grown proportionally, disclosing data from analytical source – Glassnode. The number of nonzero Ethereum addresses began to increase significantly in 2018. Over the following years, this number has expanded from under 10 million to the latest record of over 55 million wallets.

Additionally, addresses holding at least 0.1 ETH (worth about $ 170 at the time of writing) have also hit a new record with around 4.3 million addresses. The most obvious growth of such wallets was in late 2017 / early 2018, when they exploded from 1 to 3 million in just a few weeks – roughly the time when ETH hit ATH (2018) price at 1,430 USD.

And while individual investors accumulate ETH, large wallets (known as whales) holding at least 1,000 ETH have started selling off since the beginning of 2020. This number has dropped by around 1,000 wallets and has reached new lowest level in 3 years with 6,547 addresses.

Recently, investor interest in Ethereum 2.0’s upcoming launch event is also increasing. Although the final product is probably years away from being officially released, the total value locked in the ETH 2.0 Deposit Contract has also reached a new ATH of 3,532,066 ETH.

With ETH trading price today at around $ 1,750 the coin is worth around $ 6.2 billion, which means it has grown by around $ 1 billion since mid-February.

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