Crypto News – Ether, the cryptocurrency used on the Ethereum blockchain, seems to be more tightly held by those who have held it for a long time.
Low Activity of Long-term Ether Holders Suggests They Are Allowing New Users
A record low point for durations of a year or more has been reached in the active supply of ether, or the amount that has been transferred from one wallet to another within specific time periods, according to data from The Block. Following a decline of more than half from its peaks, the active supply during 30- and 90-day periods is likewise almost at an all-time low.
A comeback was staged by the supply of active bitcoin, which had also reached a record low, to conclude the period with a gain of approximately 1% in the one-year active supply. Meanwhile, the quantity of ether has decreased by almost 9% during the last twelve months.
3.66 Million New Ethereum Addresses were Added Last Month
New users seem to be pouring into the Ethereum ecosystem, while long-term Ethereum users seem to be showing low activity and Base enthusiasm reaching historic highs. 3.66 million new Ethereum addresses were added last month, the most since November 2021—the month of FTX’s collapse. This has led to an increase in the number of active addresses on the network, as seen by a seven-day moving average, indicating that the new activity more than offsets the longer-term holders‘ more cautious conduct.
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