ETH Active Supply Hits 3-Month High, While Block Intervals Are Getting Shorter

News
Wed, 05/27/2020 - 09:19
Yuri Molchan
The latest data from Glassnode reveals that the active ETH supply has hit a 3-month high, the number of new wallets has surged and the blockchain is now working faster
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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.

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).

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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.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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