- The number of ETH holders of 10k coins tapped a three-month high of 1,194.
- This is reportedly due to the price dip of Ethereum.
- The number of active ETH holders dipped from 55,3564 to 445,363 on September 7.
On-chain analytics platform Glassnode found that the number of addresses holding more than 10,000 Ethereum reached 1,194. This is the highest number in the past three months. At this time, ETH was trading around the $1,500 zone.
📈 #Ethereum $ETH Number of Addresses Holding 10k+ Coins just reached a 3-month high of 1,194
View metric:https://t.co/paW9ojeWBw pic.twitter.com/btIYi32srX
— glassnode alerts (@glassnodealerts) September 9, 2022
As clear from the graph, the number of addresses holding over 10k increased from 1,190 to 1,194. During this period, ETH was trading around the $1600 zone. More so, at the beginning of August, the number of ETH holders increased. This could be due to the low price of the coin at that time. Although the coin’s price hiked in a few intraday trading in August, there were many days when it tapped around $1,450 zone.
In short, experts forecasted that people bought coins during the dip, with an expectation to sell them when the price hikes.
Looking at the 1-month scale graph, the number of active Ethereum holding addresses was 55,3564 on September 4, which then flipped to 445,363 on September 7. This signaled a 19.5% dip. The blue line indicates the number of active addresses and the black line shows the price of Ethereum.
Adding on, the latest report by Glassnode studio showed that there are over 470k active addresses on September 8. This was when the price of ETH hit $1,635 in the past day.
At press time, ETH was trading at $1,699.92 and its price increased by over 8.5% in the past 24 hours. Contrary to the price downsize on September 7, the coin has performed well in the past day as well as in intraday trading, registering a high of $1718.
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