$7.9 billion worth held by increasing number of Ethereum small-holder addresses
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- Whales are also buying in
- What do analysts see?
Prema nedavnim podacima iz U blok, the number of addresses with 1-10 ETH recently surpassed the milestone of one million addresses and has continued to climb since.
$ ETH increasing adoption.
The number of addresses with 1 to 10 ETH recently surpassed the milestone of 1 million addresses and has continued to climb since.
These addresses collectively hold 3.31m ETH and they increased their balance by 4.75% over the past 30 days. pic.twitter.com/yyihPb0eqr
- IntoTheBlock (@intotheblock) Januar 27, 2022
The blockchain analytics notes that these small-holder addresses now collectively own 3.31 million ETH coins, or nearly $7.9 billion worth. IntoTheBlock significantly notes that this category of holders has also increased its balance by 4.75% since the start of 2022.
Whales are also buying in
U.Today earlier reported on Ethereum whales adding $500 million worth of coins to their holdings, marking the largest accumulation since November.
Following the whales’ lead, retail traders jumped on the bandwagon and began buying a great quantity of coins. The number of small wallets has already surpassed 1.4 million, according to the same data for addresses with more than 1 ETH.
What do analysts see?
john Bollinger, a well-known American financial analyst and trader, said on Twitter that he had purchased a modest quantity of Ethereum in a “trial position.” The creator of the “Bollinger Bands” indicator noted that a bullish pattern on Ethereum’s six-hour chart inspired him to buy.
Kupio sam malo $ethusd, probna pozicija, sinoć, sa bliskim zaustavljanjem–dobro blizu za kripto… Svidio mi se uzorak na šest sati i tražio sam ulaz. Nije trgovina s visokim povjerenjem i vjerovatno sam poranio, ali toe je tu i sada sam fokusiran.
- John Bollinger (@bbands) Januar 27, 2022
Bollinger, in particular, urged his followers to pay attention to the Ethereum chart as the market was about to correct. As a result, he has warned his followers that this is not a “high confidence trade,” and that the timing of his buy may not be optimal.
Ethereum is down 51.16% from its record highs of $4,878 and trades at $2,395 at press time.
Source: https://u.today/ethereum-small-holder-addresses-continue-to-grow-and-now-control-79-billion-worth