Number Of Profitable Ethereum Addresses Hits 10-Month High As ETH Continues To Rally


After many price jumps since the beginning of the year, equating to an increase of over 40 percent from January, Ethereum investors have gained, as measured by critical measures.

This is because ETH’s price dropped below $1,200 last year, enabling investors to acquire more cryptocurrency. This group of investors benefits from Thursday’s price increase to over $1,800.

According to Glassnode statistics, the number of profitable (7D MA) addresses has reached a 10-month high of around 63 million. This is not the first time Ethereum’s total number of gaining addresses will approach 64 million.

Before the most recent documented number of profitable addresses, the previous 10-month high was around 63.9 million on March 23, according to the same source. Ethereum has not been the only cryptocurrency to experience an increase in wealthy investors.

This month, Glassnode revealed that the total number of Bitcoin (BTC) addresses worth a million dollars or more increased to over 67,000, a tiny increase from January when BTC topped $20,000 for the first time in months.

In addition, Glassnode stated earlier today that the number of non-zero Ethereum addresses had surpassed 96 million. This data implies that more individuals purchase cryptocurrencies in response to the favorable price movement.

Observing the 1-day time frame, the asset’s minor retreat may not stay long, as the price still needs to reach the external high just above the $2,000 area.

Moreover, the trading volume of Ethereum has not changed much during the previous week. Nonetheless, the range between $12 billion suggested a likely accumulation that might lead to another surge in the near future, considering the imminent Shanghai upgrade scheduled for the following month.

Intriguingly, the asset’s market value increased by over $5 billion in the last week, from $207 billion to $212 billion today.

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