Ethereum Achieves New Goals Following 30% Increase

Popular data aggregator Glassnode has claimed that new small and mid-sized investors have begun to invest in Ethereum, the second-largest cryptocurrency, as a result of the coin’s recent price increase of over 30%.

Ethereum wallet-related new ATHs

The analytics firm Glassnode recently tweeted that the number of ETH wallets holding 1+ and 10+ ethers has increased to new historical heights. The former has climbed to 1,566,309 wallets, while the latter peaked at 310,656.

In addition, the total number of non-zero ETH wallets has increased to a new historical high of 84,641,107.

After Bitcoin’s increase, Ethereum jumps 30.8%

According to a Trading View graphic, the price of Ethereum increased by almost 31% between July 26 (Tuesday) and July 26, going from $,1364 to $1,784 per coin.

Bitcoin’s abrupt response to the Fed Reserve’s most recent interest rate hike is likely what led to this price increase. After the rate was increased by 75 basis points by the American central bank, the leading cryptocurrency replied with a surge of 3.07%. However, the crypto recession began when interest rates were raised in May, causing Bitcoin to lose about 40% of its value.

The second-largest coin by market capitalization is now trading at $1,720. Prior to the rate increase in May, its price remained in the $2,900 range. Ethereum even managed to temporarily go below $1,000 on June 18.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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