Bitcoin (BTC) uptrend may dominate the headlines, but the benchmark cryptocurrency isn’t the only currency that has strong positive indicators.
Based on data from Glassnode warnings, The number of Ether (ETH) wallet addresses with a low of 1 ETH reached an all-time high on November 19::
#Ether $ ETH The number of addresses with 1+ coins just hit an ATH of 1,170,598
Earlier ATHs of 1,170,508 were observed earlier today
Show metric: https: //t.co/IuKpD48IXd pic.twitter.com/jOvadjvSgK
– Glassnode warnings (@glassnodealerts) 19th November 2020
The number of # Ethereum $ ETH addresses with more than one coin reached an all-time high of 1,170,598
The previous high of 1,170,508 was observed earlier today
At the end of this issue, Ether is trading above $ 500, continuing a strong uptrend that began in early November.
It’s worth noting that single users can create multiple wallet addresses, which means that the figure of 1.17 million isn’t necessarily 1: 1 the number of users or entities.
The high number of Ether holders could not only reflect the bullish sentiment in the market in general, it could also reflect two other factors.. First, the popularity of decentralized funding and related tokens that use the Ethereum network. While the value of many of these individual tokens has increased significantly compared to their previous uptrends, the total dollar value set in DeFi remains at a solid $ 14.05 billion as of this writing.
Furthermore, the current release date for Ethereum 2.0 Phase 0 is currently set to December 1st, and the co-founder of Ethereum, Vitalik Buterin has encouraged the community to expect significant improvements in terms of scaling and networking.
As the market analysts at Cointelegraph reported today, the current price of ether represents a two and a half year high, which led the coin to an overall higher performance than Bitcoin in 2020.