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.
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.
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.
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.
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.
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