By Solomon Odunayo
According to the data provided by Glassnode Analytics Company, the number of big bag holders of Ethereum (ETH) has been on the increase as the price of the cryptocurrency edges closer to record a new all-time high.
Going by the data, the number of Ethereum wallets holding 10,000 ETH or more has substantially increased.
The data says the number of Ethereum wallets with over 10,000 ETH has now attained a one-year high of 1,097. According to the report, the on-chain data was observed on 7th January 2020.
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Glassnode Alerts tweeted, “Ethereum ETH Number of Addresses Holding 10k+ coins just reached a 1-year high of 1,097 Previous 1-year high of 1,094 was observed on 07 January 2021.”
📈 #Ethereum $ETH Number of Addresses Holding 10k+ coins just reached a 1-year high of 1,097
Previous 1-year high of 1,094 was observed on 07 January 2021
View metric:https://t.co/paW9ojeWBw pic.twitter.com/m6Ovp8ge8Q
— glassnode alerts (@glassnodealerts) January 9, 2021
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Non-Zero Ethereum Wallets Increases in Number
Also, Glassnode reported that the number of non-zero Ethereum addresses has attained an all-time high and now stands at 52,076,882.
This could signify both an inflow of new ETH holders into the ecosystem or the distribution of ETH by users to new wallets.
Ethereum (ETH) Inches Closer To Record New All-Time High
Obviously, there is an increase in interest from both retail and institutional investors. And this has been impacting the price of ETH in the market.
A few hours ago, Ethereum broke above the $1,300 resistance level for the first time since the 2018 bull market. And it’s conveniently holding the price level at press time.
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The current price level shows that Ethereum, the second-largest cryptocurrency, could soon record a new all-time high. At the time of filing this report, ETH is trading at $1,330.20, with about a 9% price upsurge based on 24 hours estimation.
ETH is widely leading the largest cryptocurrency by market cap Bitcoin based on 24 hours upside trend. While ETH is trending towards its price all-time high, BTC is revolving around the $40,000 area after losing its grip on $42,000 support.
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