Whales added 400,000 ETH despite a recent price increment More ETH is being circulated although the current vault could be overpriced Like a ton of assets in the crypto-market, Ethereum’s [ETH] price jumped over the weekend. Even at press time, the second-largest cryptocurrency in market value maintained a 5.11% hike in the last 24 hours. […]
So, does the accumulation mean ETH still has a tendency to climb further? Well, according to Glassnode, the Network Value to Transaction signal had a reading of 98.45, at press time. The metric often reflects the 90-day moving average trend of the daily transaction volume, rather than a day-to-day valuation.is a high one. And, the last time it was as high was back in February 2020.
At press time, the seven-day circulation was 3.96 million. This implied that many units of ETH were swirling around the market, despite their numbers falling when compared to the previous day.moved north is Active Addresses. This metric measures the number of unique addresses active on a network. With 24-hour active address count of 534,000, the reading implied that many wallets had either received or sent ETH over the last 24 hours.
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