At the end of the year, the crypto market experiences a slight correction. Meanwhile, there are more and more Ethereum addresses with a positive balance of coins. The market update.
The rally at the end of the year is experiencing some resistance. A look at the from Coingecko The compiled top 10 list of the largest cryptocurrencies by market capitalization shows that the majority have to accept a slight discount on the daily basis.
The number one cryptocurrency, Bitcoin (BTC), has fallen 1.8 percent since yesterday and is trading at around 46,951 US dollars at the time of going to press. DeFi top dog Ethereum (ETH) also shows a price loss of 3.1 percent in a daily comparison.
While Solana (SOL), Ripple (XRP) and Terra (LUNA) each have to lose around 2 percent overnight, correct Binance Coin (BNB) and Polkadot (DOT) each by more than 3 percent in a daily comparison.
In the top 15 ranking, Avalanche (AVAX) and Memecoin Shiba Inu (SHIB) were hit hardest. Both cryptocurrencies have to lose a price loss of over 5 percent in a daily comparison.
Ethereum wallets are springing up like mushrooms
In a yesterday Tweet from Glassnode the analysis company reported a new all-time high regarding the number of unique addresses with a positive number of ethers (ETH).
The diagram shows that the number of Ethereum addresses with positive amounts has increased continuously. After a slight discount in the summer of this year, the number has since risen sharply again. At the time of going to press, Glassnode currently has over 71 million unique addresses (as of December 29, 2021) that hold an amount greater than zero. For comparison: Last year on December 29th, the number was 51 million. This results in a year-on-year growth of around 39 percent.
If you look at the same thing for the mother of all cryptocurrencies, Bitcoin (BTC), you can also see a trend that is generally heading north. While the increase in Ethereum is a bit smoother, you can see some outliers with Bitcoin. Compared to last year on December 29th, Bitcoin also recorded a growth of around 20 percent in the number of unique addresses with a credit greater than zero. This means that the growth is roughly half that of Ethereum.
Responsible for the steep increase in addresses with positive ether credit since the middle of the year is not least the current NFT hype. The analytics company Chainalysis published a detailed report on non-fungible tokens at the beginning of December. In it, the company estimates that since the beginning of 2021 alone, cryptocurrencies worth at least $ 26.9 billion have been sent via ERC-721 and ERC-1155 – the two types of smart contracts associated with NFTs.
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Ethereum: Number of addresses with credit reaches all-time high