Ethereum Non-Zero Addresses Hit ATH
Ethereum (ETH), the world’s second-largest cryptocurrency, has seen a significant rebound from its lows of $3,000 in March.
The number of Ethereum addresses holding coins has reached an all-time high of 118.23K, indicating growing investor participation. Ethereum whale transactions have also been on the rise, suggesting a bullish price action going ahead.
A large portion of the Ethereum supply has been moving off exchanges, with ETH exchange reserves hitting new lows. As per data from Glassnode, approximately 11% of the total supply of Ethereum (ETH) was accessible for active trading, marking a decrease from 15.8% recorded at the same period last year. This trend has persisted into 2024, despite a significant 57% surge in ETH’s value year-to-date (YTD).
(With inputs from Shikha Singh)
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