Popular data aggregator Glassnode is the world’s second largest cryptocurrency Ethereum After experiencing a price increase of over 30 percent in the last few days, it has been flooded with new small and medium-sized investors.
Number of Small Investor Wallets in Ethereum Sets New Record
In recent tweets, analytics firm Glassnode stated that the number of Ethereum wallets holding more than 1 coin and more than 10 coins has jumped to new historical highs.
📈 #Ethereum $ETH Number of Addresses Holding 10+ Coins just reached an ATH of 310,656
Previous ATH of 310,638 was observed on 27 July 2022
View metric:https://t.co/6ggy1nLbSD pic.twitter.com/FQ73AqQ8zF
— glassnode alerts (@glassnodealerts) July 30, 2022
The number of wallets holding at least 1 ETH in their wallet rose to 1,566,309 and the number of wallets holding at least 10 coins rose to 310,656, breaking records.
In addition, the total amount of wallets containing ETH rose to a new historical value of 84,641,107.
The Trading View chart shows that in the period from July 26 (Tuesday) to July 28, the Ethereum price increased by about 31 percent from $1,364 to $1,784 per coin.
This increase in price is most likely of bitcoin It stemmed from the immediate reaction of the Fed Reserve to the latest rate hike. The largest cryptocurrency entered a sudden upward trend after the interest rate increased by 75 basis points by the US central bank.
But after the interest rate hike in May, the crypto recession began, which caused Bitcoin to lose about 40 percent of its value.
The world’s largest altcoin, which broke a record in the number of wallets, is trading at $ 1,720 at the time of this writing. Before the interest rate hike in May, the coin was around $2,900.
*Not investment advice.