- ETH saw the biggest 2-day stretch of network expansion since October 2022.
- The addresses holding between 0 and 0.1 units of ETH increased significantly.
Ethereum [ETH] continued to fall freely, sinking below $3,000 in the last 24 hours following a 3% drop, data from CoinMarketCap showed. The second-largest cryptocurrency was trading at $2,914 at press time, reflecting a 13.34% discount over the month.
The negative price action, however, did not appear to limit demand for the asset.
Unfazed users continue to snap ETH
According to on-chain analytics firm Santiment, Ethereum saw a sharp increase in new users joining the network. About 266.6k new wallets were created on the 28th of April and 29th, the biggest 2-day stretch of network expansion since October 2022.
Source: Santiment
Network expansion is one of the primary measures for determining if a cryptocurrency is gaining or losing traction. The onboarding of new users indicated confidence in ETH’s long-term potential, ignoring short-term blips.
Retail users enter ETH market
On further scrutiny, it came to light that retail users were jumping on the bandwagon. The addresses holding between 0 and 0.1 units of ETH increased significantly while the prices plunged, as per AMBCrypto’s analysis of Santiment’s data.
Source: Santiment
Interestingly, the cohorts holding more than 1 ETH were selling off, as evident in the drop in their ETH reserves.
Source: Santiment
The aforementioned findings suggested that retail interest was strong for ETH and healthy inflows from this segment could contribute to a relief rally in the days ahead.
Is your portfolio green? Check out the ETH Profit Calculator
Is staking the driving force?
Many of these retail customers buying ETH might be lured by the yields offered by ETH staking services.
The total ETH staked soared to 44.24 million as of this writing, forming 36% of ETH’s total circulating supply, AMBCrypto noted using Glassnode data.
At the same time, the supply of ETH on exchanges continued to shrink, falling to 12.79 million as of this writing, about 10% of total ETH coins in circulation.
Source: Glassnode
- ETH saw the biggest 2-day stretch of network expansion since October 2022.
- The addresses holding between 0 and 0.1 units of ETH increased significantly.
Ethereum [ETH] continued to fall freely, sinking below $3,000 in the last 24 hours following a 3% drop, data from CoinMarketCap showed. The second-largest cryptocurrency was trading at $2,914 at press time, reflecting a 13.34% discount over the month.
The negative price action, however, did not appear to limit demand for the asset.
Unfazed users continue to snap ETH
According to on-chain analytics firm Santiment, Ethereum saw a sharp increase in new users joining the network. About 266.6k new wallets were created on the 28th of April and 29th, the biggest 2-day stretch of network expansion since October 2022.
Source: Santiment
Network expansion is one of the primary measures for determining if a cryptocurrency is gaining or losing traction. The onboarding of new users indicated confidence in ETH’s long-term potential, ignoring short-term blips.
Retail users enter ETH market
On further scrutiny, it came to light that retail users were jumping on the bandwagon. The addresses holding between 0 and 0.1 units of ETH increased significantly while the prices plunged, as per AMBCrypto’s analysis of Santiment’s data.
Source: Santiment
Interestingly, the cohorts holding more than 1 ETH were selling off, as evident in the drop in their ETH reserves.
Source: Santiment
The aforementioned findings suggested that retail interest was strong for ETH and healthy inflows from this segment could contribute to a relief rally in the days ahead.
Is your portfolio green? Check out the ETH Profit Calculator
Is staking the driving force?
Many of these retail customers buying ETH might be lured by the yields offered by ETH staking services.
The total ETH staked soared to 44.24 million as of this writing, forming 36% of ETH’s total circulating supply, AMBCrypto noted using Glassnode data.
At the same time, the supply of ETH on exchanges continued to shrink, falling to 12.79 million as of this writing, about 10% of total ETH coins in circulation.
Source: Glassnode
Very nice info and right to the point. I don’t know if this is actually the best place to ask but do you folks have any ideea where to hire some professional writers? Thanks 🙂
Perfectly indited written content, Really enjoyed studying.
Whoa! This blog looks just like my old one! It’s on a completely different subject but it has pretty much the same layout and design. Superb choice of colors!
площадка для продажи аккаунтов профиль с подписчиками
Online Account Store Verified Accounts for Sale
Account Exchange Service Account Selling Service
Account trading platform Website for Selling Accounts
online account store buy account
account trading platform guaranteed accounts
account trading account store
account trading ready-made accounts for sale
account buying platform profitable account sales
account market https://discount-accounts.org
buy account https://accounts-marketplace.xyz
guaranteed accounts https://social-accounts-marketplaces.live/
I really value your work, Great post.
account trading platform https://social-accounts-marketplace.live
accounts for sale https://accounts-marketplace-best.pro
покупка аккаунтов https://kupit-akkaunt.xyz/
продать аккаунт магазины аккаунтов
биржа аккаунтов https://kupit-akkaunty-market.xyz
cheap facebook advertising account https://buy-ad-account.top
cheap facebook accounts https://buy-ads-account.click
cheap facebook accounts buy fb account
Thanks, I have just been looking for info approximately this subject for a long time and yours is the best I have discovered till now. However, what about the bottom line? Are you positive about the source?
buy google ad account https://buy-ads-accounts.click
buy facebook accounts cheap https://buy-accounts.click
buy google ads buy verified google ads accounts
buy verified facebook buy facebook business manager accounts
buy facebook bm account fb bussiness manager
buy facebook business managers https://buy-bm.org
verified bm for sale verified-business-manager-for-sale.org
tiktok ads agency account https://buy-tiktok-ad-account.org
tiktok ads agency account https://buy-tiktok-ads-accounts.org
buy tiktok business account https://buy-tiktok-business-account.org
clomiphene 50mg tablets where can i get cheap clomiphene without dr prescription where to get generic clomid without dr prescription can i buy generic clomid no prescription where buy clomid without dr prescription how can i get generic clomiphene without prescription clomid prices
You said it nicely..
casino en ligne
You explained that superbly!
meilleur casino en ligne
You actually mentioned it really well!
meilleur casino en ligne
You explained that terrifically.
casino en ligne
Perfectly spoken truly! .
meilleur casino en ligne
You actually expressed it superbly.
casino en ligne fiable
Awesome information. Thanks.
casino en ligne
Cheers. Ample stuff!
casino en ligne
Superb info, Thanks.
casino en ligne
Nicely put. With thanks.
casino en ligne France
Facts blog you possess here.. It’s hard to espy elevated calibre article like yours these days. I honestly appreciate individuals like you! Go through care!!
azithromycin 250mg cost – tindamax 500mg us buy metronidazole without a prescription
buy rybelsus online – buy cyproheptadine 4mg generic periactin 4 mg for sale
domperidone 10mg uk – cyclobenzaprine pill buy flexeril online cheap
buy generic augmentin – atbioinfo.com ampicillin order
buy nexium 40mg without prescription – nexiumtous order generic nexium 20mg
coumadin pill – https://coumamide.com/ order losartan 25mg pills
generic meloxicam 15mg – relieve pain mobic pills
Magnificent website. Lots of useful information here. I am sending it to a few pals ans additionally sharing in delicious. And naturally, thank you in your effort!
best pill for ed – fast ed to take site home remedies for ed erectile dysfunction
amoxicillin over the counter – amoxil order buy amoxicillin tablets
buy diflucan 100mg generic – https://gpdifluca.com/# order diflucan 200mg pills
buy cenforce 50mg online – https://cenforcers.com/ order cenforce 100mg pills
buy facebook profile marketplace for ready-made accounts accounts for sale
tadalafil hong kong – this overnight cialis delivery
facebook ads account buy account acquisition account sale
order zantac without prescription – buy cheap generic zantac order ranitidine generic
buy cialis without a prescription – https://strongtadafl.com/# where to buy cialis soft tabs
As soon as I found this web site I went on reddit to share some of the love with them.
More posts like this would create the online play more useful. fildena 150 extrafuerte
This website really has all of the information and facts I needed there this thesis and didn’t positive who to ask. purchase furosemide online cheap
This is the description of serenity I have reading. buy augmentin pills for sale
I’ll certainly carry back to read more. https://prohnrg.com/product/priligy-dapoxetine-pills/
I just couldn’t depart your site before suggesting that I really loved the usual information a person provide on your visitors? Is gonna be again ceaselessly in order to check up on new posts