On-Chain data shows Record Ethereum Ownership? Will Bitcoin follow suit?

On-Chain data shows that Ethereum Ownership is now at a record all-time high of 90.1 Million addresses. Further, there has been an increasing number of potential validators, with more than 126 thousand potential candidates. Also, the number of people who own ETH worth $10,000 or more is at a record high. This statement is also true for Ethereum addresses that own more than 1 coin. Such addresses are also at a record high of 1.7 Million.

The on-chain data is verified through Glassnode, an on-chain market intelligence firm.

Record All-Time High of 90.1 Million Non-Zero Addresses

Non-Zero Ethereum Ownership
Non-Zero Ethereum Ownership

A much greater number of people are buying cryptocurrencies during the bear market. More than 90 Million ETH wallet addresses are now active with at least some funds. This shows that there is a high possibility of even greater crypto adoption in the future. Most people might buy low currently because of the possibility that the market bottom is yet to appear.

Ethereum Ownership of 1+ coin at an All-Time High of 1.7 Million Addresses

1+ Coins Ethereum Ownership
1+ Coin Ownership

Ethereum is currently trading just above $1150. Record ownership of more than 1 coin in 1.7 Million addresses signifies that there has been sufficient buying in recent terms. From the graph, it is clearly visible that even during the bear market, people have invested in Ethereum. Further, if you see the last 2-3 months’ data, there has been a steep buying which is evident from the top-right portion of the graph.

ETH Ownership above $10,000 at an All-Time High of 339,260 Addresses

The addresses which own more than 10 coins are also at an all-time high.

Potential Validators at a 23-month high of 126,878 Addresses

Potential Ethereum Validators
Potential Validators

Ethereum needs 32 coins to be staked to become a validator. Each validator can earn about 4.5% in validation rewards per year. Further, your funds in a validation node are much more secure than other wallets as your keys are secured inside Ethereum’s software. If any of these wallets decide to become a validator, they can easily set up a system as ETH 2.0 requires much less computation and is much less energy-consuming.


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