• The total number of addresses holding at least 1,000 ETH has increased in the past year.
• On-chain data released by Santiment shows investors have taken advantage of the prolonged crypto winter to accumulate ether, the world’s second-largest cryptocurrency.
• Despite initial fears that enabling staked ether withdrawals from the beacon chain would trigger a huge crash in the price of ETH, the reverse has been the case and its price has posted a 7.5% increase in the last 30 days.
Ether Wallet Addresses Holding Over 1k Coins Surge
The total number of addresses holding at least 1,000 Ethereum (ETH) has increased over the past year, indicating that investors have been actively buying during dips. On-chain data released by blockchain analytics platform Santiment shows that these “ether sharks and whales” have grown in number and are now 380 more than last year – a 5.7% rise.
Ethereum Prices Rise Despite Staked Ether Withdrawals
The Ethereum network recently completed its transition to proof-of-stake (PoS) consensus mechanism through its Shanghai (Shapella) upgrade, which enabled validators to withdraw their staked ether (ETH). While there were initial concerns that this may lead to a huge crash in ETH prices, it appears those fears have not come true as prices have actually posted a 7.5% increase over the last 30 days. As of writing, one Ether token is trading for around $1,906.76 with a market cap of $229 billion and 24-hour trading volume of around $14 billion according to CoinGecko statistics.
Investors Show Renewed Confidence In Ethereum Linked Investment Products
Despite bearish sentiment across many traditional markets due to uncertainty from Covid-19 pandemic, investors seem more confident about Ethereum linked investment products such as decentralized finance applications and nonfungible tokens (NFTs). These projects are leveraging Ethereum’s smart contracts capability for various use cases including asset management and digital identity solutions among others which could further spur demand for Ether tokens going forward..
Ether Wallet Holding 2,365 ETH Since ICO Era Wakes Up
In March 2021 an old wallet containing 2,365 ETH was discovered after having remained inactive since 2014 when it first received funds during an Initial Coin Offering (ICO). This wallet went on to transfer some funds into two other wallets while retaining 2000+ ETH which at current market rates is worth close to 4 million US dollars – suggesting long term hodling behavior despite volatile market conditions over time..
Conclusion
Overall it appears that investor confidence in Ethereum remains relatively high despite bearish sentiment across many traditional markets due to Covid-19 pandemic uncertainties as evidenced by increasing numbers of large holders accumulating Ethereum coins on dips as well as renewed interest towards various financial applications built on top of Ethereum blockchain technology . This could potentially bode well for continued growth in Ether prices going forward..