Since November, despite the revised market rate, the number of ETHereum addresses holding less than 0.01 ETH and 0.1 ETH has increased further.
The Ethereum token, Ether (ETH), fell more than 18% after hitting an all-time high of $ 4,867 on November 10. At the time of writing, it was trading around $ 3,900. However, this drop did not stop any trader from increasing their token holding to a smaller size.
According to data collected by blockchain analytics platform Glassnode, the number of Ethereum addresses holding 0.01 ETH or less hit an all-time high of 1995 million on December 4. US dollars (data from Coinbase).
At the same time, despite the elimination of ETH from $ 4,867 to $ 3,575, the number of Ethereum wallets with the equivalent of 0.1 ETH or more continued, reaching an all-time high of 6.37 million. December 12.
As a result, the number of non-zero balance ETH residences increased each time on December 12, reaching almost 70 million. On the other hand, areas below 1ETH decrease with cost, indicating that there is no interest in lower trading ETH.
As the price of ETH continued to fall at different support levels, an army of traders who had bought small amounts of ETH rose.
It should be noted that ETH fell more than 5% on Monday, reaching almost $ 3,900, supported by major reforms across the crypto industry. However, the ETH price has reached a very attractive location for customers in a short time.
The first press comes from the downward slope of the downward slope (black variety in the figure above). At the same time, the 100-day simple moving average (100-day SMA) and red zone retracement (deleted as of October 20) make ETH more likely to recover in the short term.
It seems that small investors have raised ETH, but the attitudes of large investors appear to be different.
For example, Glassnode data shows a slight upturn in purchases in Ethereum wallets with the equivalent of at least 1,000 ETH. But overall, that number has dropped from around 7,200 to less than 6,350 by 2021.
ETH exchange rate
Many indications of an increase are due to the declining ETH balance of all cryptocurrency exchanges.
Since December 9, the number of ETHs on the stock market has increased from nearly 14 million ETH to 14.13 million ETH. This coincides with the price drop of nearly 10.50%, but long-term trading remains on a downward trend.
The exchange’s lower ETH means traders prefer to hold the coin to make money or to engage in their bank account during DeFiral (decentralized finance) trades rather than on the stock exchange as other valuables.
According to data provided by Defi Llama, DeFi’s total television cost (TVL) has so far reached over $ 250 billion, of which Ethereum’s TVL has exceeded $ 180 billion.
“However, Ethereum’s takeover of DeFi operations will have a major impact in the second half of 2021,” recalls the focus on cryptocurrency on Delphi Digital.
“As the description expands, capital begins to move to ecosystems such as Solana, Terra, and Avalanche.”
High oil prices have always been the number one reason investors look for potential ‘Ethereum killers’.
For example, Ethereum exchange costs $ 70, while Terra and Solana cost $ 1.
Tom Higgins, CEO of the Gold-i wealth platform, said: “With the shift to evidence in stock, Ethereum’s prices will rise more than BTC.