Data shared by the analytics company Glassnode in its recent tweets says that the active supply of the second most popular crypto coin ETH has hit a three-month high.
It has also stated that some other on-chain fundamentals of Ethereum have improved.
ETH active supply soars to a new high
The active supply of a digital currency refers to the amount of crypto that has been transferred over a certain period of time.
The data shared by Glassnode says that the ETH active supply 6m-12m has reached a new high of 20,653,710.315.
📈 #Ethereum $ETH Active Supply 6m-12m (1d MA) just reached a 3-month high of 20,653,710.315— glassnode alerts (@glassnodealerts) May 27, 2020
Previous 3-month high of 20,651,473.403 was observed on 25 May 2020
View metric:https://t.co/YM2XzaniSj pic.twitter.com/8UaiTYJuXK
The active supply measured by this metric includes crypto transferred both by retail and institutional holders.
As if to offer a real example of ETH being moved, Glassnode shared data of a major South Korean exchange transferring 27,000 ETH (that is $5,529,139).
Other improvements in Ethereum on-chain fundamentals
Glassnode reports that other fundamental factors for Ethereum have recently improved. This includes a surge in the number of new ETH addresses to a three-month high of 4,470.875.
In addition, according to the data from this analytics company, the average interval between new blocks generated on the ETH chain is now 5.1 percent smaller and amounts to 9.292.
According to Etherscan, as per May 22, the time required for generating a new Ethereum block totals 13.32 seconds.