ETH Addresses with Multiple Tokens Hit Monthly High

03/05/2023 03:01 • Blockchain Briefs • 118 views

According to reports, Glassnode data showed that the number of addresses with more than one ETH was 1743911, a new high in a month.

Data: The number of addresses with more than one ETH reached a new high in a month

Analysis based on this information:

Glassnode, a blockchain data intelligence company, has reported that the number of Ethereum (ETH) addresses with more than one token has reached a new monthly high, with 1,743,911 addresses holding multiple ETH tokens. The increasing number of users holding multiple ETH tokens signals a growing adoption of ETH among investors, despite the cryptocurrency market’s volatility.

ETH is a cryptocurrency that serves as the base platform for building decentralized applications (dApps), and it has been gaining traction lately in the cryptocurrency market. According to Glassnode data, more ETH users are expanding their crypto portfolios, which could indicate a bullish trend for ETH.

The rising number of addresses holding multiple ETH tokens is noteworthy because it reveals that ETH ownership is becoming more diverse. Ethereum has been criticized for its wealth concentration, as many of the top Ethereum addresses hold significant amounts of the cryptocurrency. However, this data indicates that more people are investing in ETH and are spreading out their holdings across multiple addresses.

Glassnode data also shows that the number of active ETH addresses has been steadily increasing, suggesting a growing interest in the cryptocurrency. As of September 2021, there were more than 68 million unique addresses holding ETH, indicating a significant uptick from the previous year. The continued expansion of the Ethereum network is a promising sign for ETH investors, as more users experimenting with dApps or other use cases will drive up demand for the underlying cryptocurrency.

In conclusion, the Ethereum network has been gaining momentum recently, and the increasing number of ETH users holding multiple tokens is a positive signal for the cryptocurrency’s performance. The growth of the Ethereum network suggests a bright future for the cryptocurrency market, and ETH is positioning itself to be a key player in the decentralized finance (DeFi) space.

Keywords:

ETH – Ethereum, a cryptocurrency that is the base platform for building dApps

Addresses – unique identifiers for cryptocurrency wallets on the Ethereum network

Tokens – digital assets that represent value on the Ethereum blockchain

Glassnode – a blockchain data intelligence company that provides analysis and insights into the cryptocurrency market

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/05/eth-addresses-with-multiple-tokens-hit-monthly-high/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

ETH Addresses with Multiple Tokens Hit Monthly High

Data: The number of…

Data: The number of addresses with more than one ETH reached a new high in a month

Recommended articles