⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

3 On-Chain Metrics for ETH Recently Reached New Milestones

Published 05/14/2023, 06:45 AM
Updated 05/14/2023, 07:00 AM
©  Reuters 3 On-Chain Metrics for ETH Recently Reached New Milestones

  • In a series of tweets, glassnode alerts highlighted 3 on-chain metrics for ETH which recently set new milestones.
  • The decrease in the amount of ETH exchange inflow suggests that traders have slowly stopped selling ETH.
  • At press time, the altcoin leader’s price stood at $1,809.94 after a slight 0.57% gain.

Several on-chain milestones for Ethereum (ETH) were recorded in the past 24 hours according to glassnode alerts. In a series of tweets, the blockchain analytics firm shared 3 key on-chain milestones for the Ethereum network which were recently reached.

In its first tweet, glassnode alerts shared that ETH’s amount of supply last active 1w-1m (1d MA) just reached a 3-month low. According to the post, the total stood at $6,286,324.517 ETH. This is a notable decrease from the previous 3-month low of 6,287,315.302 ETH, which was observed on 13 May 2023.

Shortly after its first tweet, glassnode alerts published a second which showed that the number of ETH addresses in loss (7d MA) recently reached a 1-month high of 33,949,357.214. This post added that the previous 1-month high of 33,921,082.321 was observed on 13 May 2023.

Lastly, glassnode alerts tweeted that the exchange inflow (7d MA) for ETH dropped to a 1-month low of $17,212,337.35. Furthermore, the previous 1-month low of $17,237,870.52 was observed on 14 April 2023. This decrease may be a bullish sign that investors and traders have slowly stopped selling their ETH holdings over the past 2 months.

At press time, CoinMarketCap indicated that ETH’s price stood at $1,809.94. This is after it printed a 0.57% gain over the previous 24 hours. Despite the recent positive price movement, ETH’s weekly performance remains in the red at -5.08%. ETH was also able to strengthen by 0.08% against the market leader Bitcoin (BTC) during this period.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post 3 On-Chain Metrics for ETH Recently Reached New Milestones appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.