Ethereum hits a new record high, coinciding with a huge increase in the number of addresses
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Answer Ethereum hits a new record high, coinciding with a huge increase in the number of addresses
Ethereum has gained a noticeable bullish momentum in the recent period after the huge jump in the number of orders from retail investors.
Yesterday, the cryptocurrency became the first digital asset after Bitcoin to reach a market capitalization above $550 billion.
Ethereum touched an all-time high of $4,643 on November 2.
Active Ethereum addresses are also on the rise.
Recent data from the analysis platform “Santiment” indicates a 45% increase in active Ethereum addresses over the last 28 days.
While demand is rising, overall supply has declined in recent weeks.
As the percentage of the supply of Ethereum in the trading platforms is declining.Read:Cardano: Another postponement announcement in the “Vasil” upgrade…Will the price of ADA coin be affected?
Additionally, Ethereum holders preferred to hold their Ethereum cryptocurrency hostage under the ETH 2.0 contract in digital exchanges in the first ten months of 2021.
The Ethereum 2.0 deposit contract now has over 8.1 million ETH stakes.
The total value of coins deposited exceeded $37 billion on November 2, an all-time high.
At the launch of the “Beacon Chain” in December 2020, the Ethereum 2.0 deposit contract contained only approximately 900,000 ETH.
Ethereum price movement:
In the past seven days, the price of Ethereum has gone up more than Bitcoin.
The price of Ethereum has jumped nearly 10% over the past week, compared to a nearly 4% rise in Bitcoin.
Ethereum continues to hit all-time highs.
The second largest coin in the cryptocurrency market has crossed $4,643 for the first time in its 6-year history.
The utility of Ethereum’s rise is 45% more active addresses than they were 4 weeks ago.
In general, the bullish momentum in the cryptocurrency market has caused a huge jump in the demand for emerging digital currencies.Read:Binance founder responds to accusations of money laundering against Binance
SEC announces postponement of decision on Valkyrie’s Bitcoin ETF
“Kraken” company, after years of providing cryptocurrency trading services…plans to provide stock trading services
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