Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In a recent tweet, Santiment on-chain data provider has shared that the number of ETH transfers while the participating addresses were at a loss exceeded that of when wallets were in profit by roughly 3.4 times.
That was the biggest increase of this ratio over the past 3.5 years (since mid November 2018).
Santiment team believes that this may be a sign of Ethereum bottoming out.
? On the #Ethereum network, there were about 3.4 times as many transactions taken while coins were at a loss compared to in profit, on Friday. This was the highest day, in terms of $ETH's capitulation trading ratio since Nov 18, 2018, or 3.5 years ago. https://t.co/Y7YKjknv7L pic.twitter.com/hXLkHsgFB2
— Santiment (@santimentfeed) May 7, 2022
As for the number of Ethereum wallets in loss, according to data shared by Glassnode, it has hit a 2-year high, reaching 24,513,674.851.
The number of ETH wallets in profit has dropped to a one-month low of 55,470,222.548.
Alex DovbnyaWhile Ethereum has lost slightly over $1,000 since the start of the year, dropping to $2,661, new investors keep entering the ecosystem. As per Glassnode, the number of non-zero wallets has soared to a new historic peak of 80,166,298.
? #Ethereum $ETH Number of Non-Zero Addresses just reached an ATH of 80,166,298
— glassnode alerts (@glassnodealerts) May 7, 2022
View metric:https://t.co/beS1MtIgAZ pic.twitter.com/aFzyYEoO2G
Small investors are also flowing in – the amount of wallets that hold 0.01+ ETH has climbed to an all-time high of 22,629,104.
Tomiwabold Olajide
Godfrey Benjamin
Dan Burgin
Alex Dovbnya
Vladislav Sopov