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Blog

Date:
03rd Nov 2020
Author:
CryptoAltum Research Team

Ethereum Addresses Holding over 32 ETH Surge to an All-Time High

The number of unique Ethereum addresses holding 32 ETH and above rose to an all-time high of 125,540, GlassNode data reveals. In a few weeks, the Ethereum network will update its core to support staking. To qualify as a validator and earn rewards, one must lock in at least 32 ETH, a figure which has been rising as on-chain data shows.


Details: 

The Ethereum network is one of the most active platforms in the globe. In preparation for staking and a shift away from an auction system underpinned by miners, there is a clear uptick of demand and more people are gearing to be validators. That the minimum amount required for qualification is quickly being met, surging to 125,540 ahead of Phase 0, hints at how decentralized the network will be; a move that will once again cement Ethereum’s position without jeopardizing ETH’s qualification as a utility. 


Impact on the ETH Price: 

Bullish. Ahead of the Beacon Chain mainnet, the accumulation from potential validators is a net positive for price action. It is especially vital at the present state when bulls are losing steam, having a negative bearing on prices. 


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