Number of Addresses With More Than 0.1 ETH Continues to Decline

03/04/2023 15:54 • AI Insights • 88 views

According to reports, Glassnode data showed that the number of addresses with more than 0.1 ETH reached 5124042, a new low in one month.

The number of addresses with more than 0.1 ETH hit a new low in 1 month

Analysis based on this information:

The latest report from Glassnode indicates that the number of addresses holding more than 0.1 ETH has dropped to 5,124,042, a new low in one month. This decline in the number of ETH addresses comes at a time when the cryptocurrency market has witnessed a significant amount of volatility.

It is worth noting that this number is still high compared to the same period last year, indicating that investors still have faith in the cryptocurrency. However, the long-term trend of declining ETH addresses raises concerns about the current state of the ETH market.

Many experts believe that the declining number of ETH addresses is a result of investors taking profits, especially after the meteoric rise in the value of ETH at the beginning of the year. Additionally, the rise of alternative cryptocurrencies like Dogecoin may have also played a role in the decline of the number of ETH addresses.

Another possible reason for this decline is the high transaction fees associated with ETH. The high transaction fees make it impractical for small-scale investors to hold ETH. Furthermore, instead of holding ETH, they prefer alternative cryptocurrencies that have lower transaction fees.

The declining number of ETH addresses is a cause of worry for investors who are looking for long-term returns from the cryptocurrency. While it is still early to draw any conclusions about the future of ETH, it is essential for investors and other stakeholders to monitor this trend closely.

In conclusion, the drop in the number of addresses holding more than 0.1 ETH to a new low in one month is a concerning development for the ETH market. The long-term implications of this trend are not yet clear, but it could point to the need for ETH developers to rethink their strategies to attract more investors to the market.

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Number of Addresses With More Than 0.1 ETH Continues to Decline

The number of …

The number of addresses with more than 0.1 ETH hit a new low in 1 month

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