The one-day moving average of Ethereum’s amount of supply last active three to five years ago reached an 11-month low of 13,950,244.967 ETH, according to Glassnode data.
Furthermore, the seven-day average of the number of Ethereum addresses in a loss just reached a new all-time high of 47,117,045 — suggesting that this substantial decline in three-to-five-year-old balances is linked to large-scale liquidations caused by the recent market downturn. Despite this bleak outlook, there are also some positive data points to gather from Ethereum’s on-chain analytics.
Another Glassnode chart reveals that the number of Ethereum addresses holding over 1,000 ETH reached a 19-month high of 6,536. The previous 19-month high of 6,535 was observed on Sept. 15, 2022. This suggests that whales — whose financial decisions have shown to be one of the best long-term market performance predictors — are now accumulating and not fleeing the market.
This is not the first time Ethereum has broken the record for the highest number of addresses in the loss. Yesterday this record was also broken, and concurrently the seven-day average of the number of Ethereum addresses in profit reached a four-month low of 43,154,884.
Furthermore according to a recent report, the amount of Bitcoin supply last active ten years ago or more just reached a new all-time high of 2,548,208 BTC — equivalent to nearly $41 billion as of press time.