© Reuters 3 metrics on the ETH chain reached new milestones recently
- In a series of tweets, Glassnode Alerts highlighted 3 on-chain metrics for ETH that recently set new milestones.
- The decrease in the amount of ETH exchange flow indicates that traders have slowly stopped selling ETH.
- At press time, the altcoin leader was flat at $1,809.94 after a slight gain of 0.57%.
Several on-chain milestones for (ETH) have been reported in the last 24 hours according to Glassnode alerts. In a series of tweets, the blockchain analytics firm shared 3 major on-chain milestones for the recently reached Ethereum network.
In its first tweet, Glassnode Alert shared that the amount of active ETH supply between 1w-1m (1d MA) has just reached its lowest level in 3 months. According to the post, the total is $6,286,324,517 ETH. This is a significant decrease from the previous 3-month low of 6,287,315,302 ETH, which was observed on May 13, 2023.
Shortly after her first tweet, she posted a second Glassnode Alert showing that the number of ETH addresses in loss (7d MA) recently reached a one-month high of 33,949,357,214. This post added that the previous one-month high of 33,921,082,321 was observed on May 13, 2023.
Finally, Glassnode Alerts tweeted that exchange flow (7d MA) for ETH fell to a one-month low of $17,212,337.35. Moreover, the previous one-month low of $17,237,870.52 was observed on April 14, 2023. This decline could be a bullish sign that investors and traders have slowly stopped selling their ETH holdings over the past two months.
At the time of publication, CoinMarketCap indicated that the price of ETH settled at $1,809.94. This is after printing a gain of 0.57% over the past 24 hours. Despite the recent positive price action, ETH’s weekly performance remains in the red at -5.08%. ETH also managed to consolidate by 0.08% against the market leader (BTC) over the period.
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