More ETH wallets have more than zero, so ETH is becoming increasingly popular.
On-chain data from Glassnode shows that Ethereum (ETH) keeps leaving exchanges. In the last 24 hours alone, -$16.6 million worth of ETH has left businesses.
Ethereum is growing all the time
From the same source, it is clear that the number of non-zero addresses just hit an all-time high of 95,104,412. This shows that Ethereum’s user base has grown significantly.
Still, it’s important to remember that this number will likely go down a little and more likely to go up over time since many addresses with too little ETH to be worth moving are counted as non-zero addresses.
Also, the amount of ETH that hasn’t changed hands in seven to ten years reached a new all-time high of 3,643,722 ETH, the most ever. This shows that the $5.64 billion worth of Ethereum has stayed the same since the beginning of the protocol.
This is important information about ETH because it shows that long-term cryptocurrency holders are not selling, even though the market has been moving around a lot lately. This is a good sign for the overall health of the Ethereum ecosystem since long-term holders are often seen as a stabilizing force in the market.
Also, the fact that these coins have stayed the same for a long time shows that long-term holders have a lot of faith in the Ethereum project and its growth potential.
Even though ETH has lost a lot during the recent bear market, it is essential to remember that at its current market cap of $192 billion, it is still worth more than Toyota ($190.80 billion), Walt Disney ($183.88 billion), or Wells Fargo ($177.74 billion).
Recent news said that core developers of Ethereum had released a new software smart contract called EntryPoint, which lets wallet accounts work as smart contracts.