Glassnode: The number of ETH wallets storing 10,000+, while Ethereum recovered to $370
According to Glassnode, major Ethereum wallets are down in number again as ETH addresses with more than 10,000, and more than 1,000 coins have reached new lows. Meanwhile, the amount of non-address ETH has increased to reach all-time highs.
The number of major Ethereum wallets drops to new lows
According to data from Glassnode, the number of addresses with more than 10,000 ETH on it experienced a huge drop and hit a 21-month low – 1,020. ETH processed with more than 1,000 coins on it fell to a 2-year low of 7,253.
Previous 21-month low of 1,021 was observed earlier today
— glassnode alerts (@glassnodealerts) September 12, 2020
However, the good news is that the number of non-zero ETH wallets has increased to reach a new all-time high of 46,810,185.
While mid-size ETH holders appear to be withdrawing ETH or converting it to BTC or altcoin, new users continue to join the ETH network.
Ethereum is not having its best time right now, with users complaining about the extremely high fees on the network while Vitalik Buterin’s brainchild is preparing to roll out the major Ethereum 2.0 upgrade.
While this is happening, ETH recently fell from a high of $ 483 on September 2 and gradually went down to as low as $ 327 on September 6.
Since then, ETH is slowly recovering, and at the time of writing it is changing hands at $ 370.42.
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