• Ethereum’s daily new addresses have been rising recently.
• ETH fell for the second day but maintained the $2,000 price range.

Factors beyond the latest ETF application drove the recent increase in Ethereum’s [ETH] price. The actions of addresses on the network have also played a significant role in influencing the movement of ETH. 

Ethereum addresses show mixed accumulation patterns

Santiment’s chart revealed a recent increase in the number of wallets holding less than one Ethereum over the past few days.

An analysis of the chart indicated that these wallets have been reaching various milestones. Currently, the number of such wallets is now over 103 million.

Furthermore, examining the address metric on Glassnode provides a daily trend overview.

The corresponding chart on Glassnode showed a continuous upward rise for this category of wallets. As of the latest data, the number of addresses in this tier was over 24 million.

Despite the optimistic trend in the number of wallets holding less than 0 ETH, caution arises when considering the 10,000 to 10 million tiers.

An

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Author: Adewale Olarinde

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