The number of ethereum (ETH) wallet addresses containing at least one wei just hit a new all-time high of 99,355,406, data shows. The ETH price has been holding above $1,800, despite choppy markets.
The battle for supremacy between the bulls and the bears continues. With the global crypto market capitalization still well below the $3 trillion mark reached in November 2021, on-chain metrics show strong investor confidence in ethereum.
According to Glassnode, Ether (ETH) wallet addresses with non-zero balances have risen to a new all-time high (ATH) of 99,355,406, a strong indication that investors are holding onto their coins for higher profits.
Since reaching an all-time high of $4,876 in November 2021, the price of ether has continued to fall, hitting a low of $881.56 last June. This latest on-chain metric suggests that even retail investors are holding on to their coins despite the drop.
While the number of ethereum wallet addresses with at least the smallest unit of ETH (a wei) has increased, the case is different for ether whales, as the number of diamond hands with more than 100 ETH has reached a minimum of six months of 46,858.
Although the exact cause of this decline cannot be named, it could be due to increased portfolio diversification and participation activity by these whales, among other possible factors.
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At the time of writing, ethereum is trading for $1,807.35, which is a 1% drop in the last 24 hours. The ethereum price is down 62.96% from its ATH of $4,878.26 reached in November 2021.
Ether has a market cap of $217,193,216,738, with a market cap dominance of 18.569%, while its 24-hour trading volume is $6,145,561,021, according to CoinGecko.
