The number of Ethereum addresses continues to grow

by in Cryptocurrency News

Ethereum

The largest altcoin Ether (ETH) is currently trading at $ 227, over the past 24 hours, the crypto capitalization has dropped to $ 25.493 billion.

At the same time, the number of coin holders, by contrast, continues to grow. According to the Glassnode platform, the number of wallets on the Ethereum network with a non-zero balance has reached a new maximum.

Currently, 42.4 million addresses hold different amounts of ETH. Researchers attribute investor activism to the hype around the upcoming launch of an updated version of Ethereum (ETH 2.0).

Trending: Research: Bitcoin is correlating with US stock market

Moreover, coins are accumulated not only by traders but also by miners. Over the past 20 days, mining pools have increased their overall airtime balance by 21,000 coins.

The head of DTP Capital Spencer Nun said that in early June, miners were selling ETH, which provoked a drop in its value.

In the second half of the month, the situation changed, and now miners are saving up coins. This tactic allowed us to avoid a more significant loss of positions and stop a rollback below $ 200.

IntoTheBlock analysts reported data suggesting that 1.6 million addresses acquired 1.6 million ETH when the asset was trading in the range of $ 215 to $ 221.

Trending: Ebang raised $101 million through an IPO

Experts believe that support will increase if there are risks of falling below the psychological mark of $ 200. Holders of altcoin are likely to try to stay in profit and increase their purchases of ether to avoid losses in the event of a further decrease in its value.