Ethereum Recording Massive Retail Storm As Number of Ethereum Addresses Hit Another ATH
Ethereum’s journey continues as data from Glassnode shows the cryptocurrency is seeing a massive influx of retail investors buying up the cryptocurrency.
While the number of Ethereum addresses with at least a 0.1 ETH in them jumped to a record high yesterday, the market bulls have maintained the momentum as the Ethereum addresses with the same number of Ether locked in them has surged to a new all-time high (ATH) of 3,726,395, a slight increment from the previous ATH of 3,726,002.
The run-up to setting the new milestone is not surprising as Ethereum bulls have been ambitious in their push to steer Ethereum price to hit and surpass its all-time high above $1,432.88, a feat it recorded back in January 2018. At the time of writing, Ethereum’s current price is just 7.96% away from its all-time high and is trading at $1,326.00, a 10.2% surge in the past 24 hours.
Ethereum Has a Corresponding Increase in Transaction Volume
The determination to push Ethereum price past its ATH has also been reflected in the total volume of Ethereum per the transaction volume. Glassnode data also revealed that the total Ethereum transaction volume just went above 8 Trillion ETH and currently pegged at 8,000,274,971 ETH.
While Ethereum is still the unmovable second-ranked coin, the coin’s overall contribution to helping maintain a healthy cryptocurrency market cannot be undermined. With a total contribution of 14.68% to the overall global crypto industry’s market cap, its lone market cap of $151 billion is a testament to the growth the coin has picked up in the past days.
While both institutional and retail investors seek an alternative to the out-of-reach Bitcoin, Ethereum continues to be the attractive altcoin and this is shown in the metric growth of ETH on all fronts.
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