Reportsย by recent data from blockchainย tech analytics company Glassnode, the total value held in the ethereum 2.0 deposit contract reached an record-breakingย peak (ATH) of $40,733,472,229.12.
The ethereum 2.0 deposit contract is part of Ethereumย (ETH) networkโs transition to proof-of-stake (POS) aimed at improving the efficiency, scalability, and security of the system.
Concurrently, the number of addresses holding larger amounts of ethereum has shown a downturn. As of the latest reports, the number of addresses holding 32+ Ethereumย (ETH) reached a five- 30ย days low of 127,247.
For context, 32 Ethereumย (ETH) is the threshold for takingย partย in the Ethereumย (ETH) 2.0 network as a validator, where users can help secure the network and earn bonus. The value of 32 Ethereumย (ETH) is asย ofย now equivalent to just under $60,000.
The number of addresses holding 100+ Ethereumย (ETH) and 10k+ Ethereumย (ETH) likewise dropped to six- 30ย days bottomย Line of 46,647 and 1,156, respectively.
These numbers provide insights into the distribution of wealth on the ethereum network and can be interpreted as a measure of the networkโs decentralization โ but could likewise point to big holders showing fading interest in ethereum.
Moreย generally, a decrease in holders โ especially large holders โ is seen as a bearish sign.
Simultaneously, the number of ethereum sending addresses, measured by a seven-day moving average, plummeted to a two-year low of 18,095.
This metric denotes the total number of unique addresses from which an Ethereumย (ETH) transaction originated during the specified period, supplying a glimpse into the level of activity on the Ethereumย (ETH) network.
The decline in the number of Ethereumย (ETH) sending addresses could signify numerous dynamics at play. Several Ethereumย (ETH) holders couldย be opting to hold rather than transfer their cryptoย tokens, or itย canย potentially indicate a decrease in network activity.
