Over the last 24 hours, Ethereum (ETH) has achieved several noteworthy on-chain milestones, as reported by glassnode alerts. The blockchain analytics firm took to Twitter to share three pivotal achievements that the Ethereum network has recently accomplished.
Glassnode Alerts has announced in its inaugural tweet that the Ethereum supply, last active within the past week to a month, has hit a three-month low. The total currently stands at $6,286,324.517 ETH, marking a significant drop from the previous three-month low of 6,287,315.302 ETH recorded on May 13th, 2023. This data highlights a noteworthy trend in the Ethereum market and provides valuable insights for investors and traders alike.
Following its initial tweet, glassnode alerts released a subsequent update revealing that the 7-day moving average of Ethereum addresses in the red has surged to a one-month peak of 33,949,357.214. The post also noted that the previous 33,921,082.321 was recorded on May 13th, 2023.
According to recent tweets from glassnode alerts, the 7-day moving average of exchange inflow for ETH has hit a 1-month low of $17,212,337.35. This marks a significant drop from the previous 1-month low of $17,237,870.52, recorded on April 14th, 2023. This decline could indicate a bullish trend, suggesting that investors and traders have held onto their ETH holdings instead of selling them off over the past two months. Overall, this data provides valuable insights into the current state of the ETH market and its potential future trajectory.
According to the latest update from CoinMarketCap, Ethereum (ETH) is trading at $1,809.94, reflecting a modest 0.57% increase over the past 24 hours. While this uptick is certainly encouraging, it’s worth noting that ETH’s weekly performance is still in negative territory, down by 5.08%. However, it’s worth highlighting that ETH has strengthened by 0.08% against the market leader Bitcoin (BTC), during this period.
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