Ethereum number of addresses in profit reaches ATH after the new price determination of Ether


The continued price recovery of ether has resulted in higher profitability for the coin holders than on-chain data shows The number of profitable Ethereum addresses has hit a new all-time high (ATH) of 56,953,148,232 based on a 7-day moving average.



It’s been a largely profitable week for Ethereum, given the price of the coin billowed for the first time on an ATH over $ 2,500.

The cryptocurrency ecosystem has seen a massive surge in price as both top digital assets like Bitcoin (BTC) and Binance Coin (BNB) introduced new ATHs over the past week, powered by different fundamentals. The Ethereum surge, partly driven by the start of the Berlin upgrade in the network’s mainnet in the last few days has probably contributed to pushing the coin in the direction of rewarding its investors

The accumulation of Ethereum is picking up speed

Analysts have understood the persistently impressive price development of the world’s second largest cryptocurrency by market capitalization. Lewis Harland, Associate at Crypto Asset Fund, Decentral Park Capital, highlighted an upward trend marked by a decline in the total number of Ethereum held on cryptocurrency exchanges.

“We have just seen the seventh largest daily net outflow for #ETH since 2017. The accumulation continues,” he said in one Tweet.

The accumulation can be viewed as extensive and ranges from both retail and institutional investors. In addition to the latter, a new one submission The SEC announced that Rothschild Investment Corporation has acquired more than a quarter of a million shares in the Ethereum Trust from Grayscale reported Investing in Grayscale’s Bitcoin Trust (GBTC).

The future of Ethereum is bright

Ethereum plays a key role in today’s cryptocurrency ecosystem and serves as the most widely used blockchain network for DeFi (decentralized finance) applications that are becoming commonplace these days. With its role in powering DApps, the utility of digital currency will inevitably increase over time, which has a major impact on future price prospects.

The Berlin upgrade is also a forerunner of the later one roll out of the EIP 1559 protocol. This protocol will restructure the payment of Ethereum fees and introduce a “burn” feature that turns Ether into a deflationary asset. All of this together gives the coin the assurance of a bright future as the entire crypto space travels to maturity.

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About the author

Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about the real world applications of blockchain technology and innovations to drive general adoption and global integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based media and websites. Benjamin Godfrey loves sports and agriculture. Follow him on Twitter, Linkedin

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