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SirWin
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SirWin

Ethereum non-zero addresses reach new all-time high

ethereum-non-zero-addresses-reach-a-new-all-time-high
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Ethereum non-zero addresses reach new all-time high

More ethereum wallets are holding more than zero, which means that ETH is becoming more popular all the time.

On-chain data provided by Glassnode shows that ethereum (ETH) keeps flowing off-exchanges with -$16.6 million having left over the last 24 hours alone.

Ethereum is growing all the time

Data from the same source also clearly shows that the number of non-zero addresses just reached an all-time high of 95,104,412 — showing a significant growth in ethereum’s user base.

Still, it is important to keep in mind that this number is unlikely to see any major downturn and will likely only grow as time goes on since many addresses that hold a quantity of ETH insufficient to be worth moving count as non-zero addresses.

Furthermore, the amount of ETH supply that has not been moved for seven to ten years also reached a new all-time high of 3,643,722 ETH. This shows that ethereum now worth $5.64 billion has not been ever moved from the very infancy of the protocol.

This is a particularly important datapoint concerning ETH, as it suggests that long-term holders of the cryptocurrency are not selling, despite the recent market volatility. This is a positive sign for the overall health of the ethereum ecosystem, as long-term holders are often seen as a stabilizing force in the market.

Additionally, the fact that these coins have not moved in such a long time indicates a high level of confidence by long-term holders in the ethereum project and its potential for future growth.

If you’d like to better understand cryptocurrency on-chain analysis feel free to view Coin Bureau’s guide on YouTube

While ETH has seen major losses during the recent bear market, it is important to keep in mind that at its current market cap of $192 billion it is still worth more than Toyota ($190.8 billion), Walt Disney ($183.88 billion) or Wells Fargo ($177.74 billion).

The events follow a recent report about core ethereum developers having launched a new software smart contract called EntryPoint that allows wallet accounts to function as smart contracts.