Ethereum's 'Wow' Metrics During This Ranging Period
Very quietly, Ethereum broke a 7-year record over the weekend. Not since 2016 have the top 10 non-exchange addresses alone collectively held over 25 million ETH. Expect to see some critics come out of the woodwork to complain about ETH centralization on this one.
However, the amount of ridiculously large whale addresses has continued declining. There are just 124 addresses holding 100,000 or more Ethereum, the lowest amount since November, 2018. This number peaked at 176 in July, 2019.
Finally, ETH spent appears to be dominant for... well, Ethereum. This is typically the case, but it looks like it's been expanding the lead over Wrapped ETH, USD Coin, and Tether as of late. Look for an increase in USDT and USDC ETH spent, in particular, as a good sign that markets may be on the verge of picking up.
Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
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