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You are here: Home / News / Ethereum’s Top Holders Hit 10-Month Low While Non-Zero Addresses Soar
Ethereum

Ethereum’s Top Holders Hit 10-Month Low While Non-Zero Addresses Soar

June 1, 2023 by Ammar Raza

In a recent development, Glassnode alerts have brought to light a significant shift in the Ethereum landscape. The number of addresses holding 1,000 or more ETH coins has reached a 10-month low, plummeting to a mere 6,268. 

📉 #Ethereum $ETH Number of Addresses Holding 1k+ Coins just reached a 10-month low of 6,268

Previous 10-month low of 6,270 was observed on 02 November 2022

View metric:https://t.co/iDNXAbcjH1 pic.twitter.com/SNVGSIJR0j

— glassnode alerts (@glassnodealerts) May 31, 2023

This startling figure is reminiscent of a similar low observed on 2nd November 2022 when the count stood at 6,270.

On a contrasting note, ETH’s journey continues to witness other intriguing dynamics. The number of non-zero addresses associated with it has surpassed an impressive milestone, surpassing the 100 million mark.

image 101

This noteworthy achievement highlights the growing adoption and interest in the Ethereum ecosystem.

Amidst these developments, the daily on-chain exchange flow of ETH has seen some noteworthy fluctuations. The flow of ETH into the exchanges recorded a significant inflow of $331.8 million, indicating a substantial amount of assets being sent to the platforms. 

On the other hand, the outflow from the exchanges amounted to a staggering $378.8 million, resulting in a net flow of -$47.0 million.

📊 Daily On-Chain Exchange Flow#Bitcoin $BTC
➡️ $849.7M in
⬅️ $711.6M out
📈 Net flow: +$138.1M#Ethereum $ETH
➡️ $331.8M in
⬅️ $378.8M out
📉 Net flow: -$47.0M#Tether (ERC20) $USDT
➡️ $605.2M in
⬅️ $593.1M out
📈 Net flow: +$12.1Mhttps://t.co/dk2HbGwhVw

— glassnode alerts (@glassnodealerts) May 31, 2023

These figures provide a glimpse into the complex dynamics of ETH’s ecosystem, shedding light on holders’ behavior, the growing user base, and the fluid nature of asset movement within the exchanges.

However, as the cryptocurrency landscape continues to evolve, it will be intriguing to witness how these variables shape the future of Ethereum and the broader market.

Ethereum Will Lead Crypto Adoption

Meanwhile, in another eye-catching news, renowned Bitcoin investor and Bitcoin Cash advocate Roger Ver has made a bold claim about Ethereum’s potential to drive widespread crypto adoption. 

Speaking on the Show Me The Crypto podcast, Ver, often referred to as the “Bitcoin Jesus” due to his early support for Bitcoin, expressed his belief that Ethereum, despite its scaling issues, will be at the forefront of the crypto revolution.

YouTube video

Ver lauded the rise of Ethereum Virtual Machine-compatible (EVM) blockchains and layer-2 scaling solutions, such as Polygon, which alleviate the burden on the main chain. According to Ver, these developments will be crucial in attracting new users to the crypto space.

During the podcast, Ver also delved into the historical “civil war” between Ethereum’s co-founder, Vitalik Buterin, and Bitcoin core developers. 

He highlighted the disagreements over smart contracts and the departure from the notion of blockchains solely serving as currencies or stores of value. 

Ver emphasized that if not for this conflict, the advancements made by Ethereum would have likely been integrated into Bitcoin.

Nevertheless, Roger Ver’s insights into Ethereum’s potential and his candid remarks on the past and present state of the crypto industry make for a thought-provoking discussion. 

Related Reading | Dogecoin and SHIB: Examining the Fundamental Contrasts Between Them

Filed Under: News, Altcoin News Tagged With: Cryptocurrency, Ethereum (ETH)

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