reports that the current number of addresses exceeds 92 million, a new record. More significantly, though, is the rising trend in the total number of addresses where the balance is anything other than zero.The “number of addresses with a Non-Zero balance” measures the proportion of all addresses on the blockchain with a positive value, indicating that they have at least some Ether .
Investors are beginning to liquidate their holdings and exit the market when this statistic drops in value. Following a steep decline in cryptocurrency prices, this pattern may become apparent. As the indicator rises, however, it suggests that new investors are filling their wallets. The move might be signaling the beginning of a bull market.
Several variables may be responsible for the recent surge in address activity, but two stand out as particularly plausible explanations. For the greater part of the past year, the price ofNew and seasoned investors could increase their holdings or enter the market. In addition, ETH now had a new utility thanks to the Ethereum merge last year. Following the merge, a new type of investor was created, thanks to the staking feature.
According to CoinMarketCap, the circulating supply of Ethereum was over 122 million. More than 50% of the supply, as measured by the percent supply in profit, was profitable. The percent supply in profit was just over 68% as of the time of writing.As of this writing, the daily trading price of Ethereum was around $1567. A decline in value was also seen within the time frame that was analyzed. Its value had dropped by almost 2%, bringing the total drop in the previous 48 hours to roughly 3%.