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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Number Of Ethereum Addresses In Profit Hits 10-Month High As ETH Continues Rally

Samuel Edyme
Samuel Edyme
2 years ago
3 mins read
Ethereum (ETH) number of addresses surges

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After several spikes since the beginning of the year, up over 40% from January, Ethereum investors have profited, translating into key metrics. According to the on-chain analysis firm Glassnode, the number of Ethereum addresses in profit has now hit a 10-month high of nearly 64 million. 

This comes after ETH dipped below $1,200 last year, allowing investors to accumulate more cryptocurrency. These investors are profiting from its price spike to above $1,800 on Thursday.

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1 year ago

Profitable Ethereum Addresses Increasing

According to data from Glassnode, the total number of addresses that are in profit (7D MA) has now surged to a 10-month high of approximately 63 million. Notably, this is not the first time Ethereum will push its total number of addresses in gain to a figure nearing 64 million. 

Ethereum (ETH) number of addresses in profit.
Ethereum (ETH) has several addresses in profit. | Source: Glassnode

Before the latest recorded number of addresses in profit, the previous 10-month high sat at around 63.9 million as of March 23, according to the same source. Meanwhile, Ethereum hasn’t been the only crypto to see a spike in profitable investors.

Earlier this month, Glassnode reported that the total number of Bitcoin (BTC) addresses worth a million dollars or more surged to more than 67,000, slightly higher than the amount of 65,000 in January earlier this year when BTC first crossed $20,000 in months.

Ethereum (ETH) number of non-zero addresses
Ethereum (ETH) number of non-zero addresses. | Source: Glassnode

Furthermore, Glassnode announced earlier today that Ethereum non-zero addresses had reached a new ATH of 96 million. This data suggests that more people are buying the cryptocurrency amid the bullish price action. 

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Ethereum Bullish Signal: $560M In ETH Exits Exchanges

2 years ago

ETH To Continue Rally?

Over the past two weeks, ETH price has rallied by nearly 10%, from a low of $1,723 on March 17 to as high as trading at $1,845 on March 23. Though at the time of writing, the asset is seeing a retracement down by 3.7% in the last 24 hours with a trading price of $1,775. 

Ethereum (ETH) price) chart on TradingView
Ethereum (ETH) price) is moving sideways to tap into external liquidity on the 1-day chart. Source: ETH/USDT on TradingView.com

Meanwhile, looking at the 1-day time frame, it seems as though the asset’s slight retracement may not last for long as the price would still need to hit the external high just above the $2,000 region.

Moreover, Ethereum’s trading volume hasn’t made any significant move in the past 7 days. Still, the range between $12 billion indicated a possible accumulation which may result in another rally that may happen soon, given the upcoming Shanghai upgrade set to occur next month.

Interestingly, the asset’s market capitalization has added over $5 billion in the past week, moving from a $207 billion last week to $212 billion as of today.

Featured image from Unsplash, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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