Bitcoin and Ethereum Networks Hit All-Time Highs
It seems like Bitcoin (BTC) and Ethereum (ETH) believers have been growing increasingly active during the past few days, suggest the network stats provided by an on-chain analytics firm Glassnode, showing a number of all-time highs.
First and foremost, both Bitcoin and Ethereum networks reached new all-time highs in addresses holding particular amounts of coins.
There were more than a million wallets that have ETH 1 or more recorded by Glassnode on June 22, and close to 7.9 million addresses with a bare minimum of ETH 0.01.
There is also a new record of non-zero ETH addresses, which stands at more than 42 million.
The total number of active Ethereum addresses (1-day moving average) has reached a new one year high.
📈 #Ethereum $ETH Number of Active Addresses (1d MA) just reached a 1-year high of 24,533.750— glassnode alerts (@glassnodealerts) June 22, 2020
Previous 1-year high of 24,413.042 was observed on 22 June 2020
View metric:https://t.co/opii7ZqSOO pic.twitter.com/FavWNiOlzA
A surge in activity on Ethereum can also be observed in its transaction volume, which increased more than 100% on June 22.
📈 #Ethereum $ETH Transaction Volume (1d MA) increased significantly in the last 24 hours.— glassnode alerts (@glassnodealerts) June 22, 2020
Current value is 99,024.950 ETH (up 114.0% from 46,262.668 ETH)
View metric:https://t.co/ppJakZeiHt pic.twitter.com/o7BFWBZt7s
Bitcoin’s transaction volume has grown by whopping 135%.
📈 #Bitcoin $BTC Transaction Volume (1d MA) increased significantly in the last 24 hours.— glassnode alerts (@glassnodealerts) June 23, 2020
Current value is 47,264.783 BTC (up 135.1% from 20,106.978 BTC)
View metric:https://t.co/8KFTNuku3W pic.twitter.com/vQGm8lXcnM
Consequentially, the number of ETH transactions has reached a new 6-month high yesterday. Furthermore, the increase of on-chain activity has also led to a new record of total gas usage, as well as 3-month highs in total and mean block sizes.
The surge in activity is also reflected in another 3 month-high of bitcoin and ethereum realized prices, which stand at USD 5,795.48 and USD 208.32 respectively, indicating that buyers are willing to enter BTC and ETH positions at a higher cost in terms of USD.
Last but not least, Bitcoin realized market capitalization reached a new all-time high of USD 106.7 billion, meaning that there is a record amount of USD invested in bitcoin.
And from the looks of it, it does not seem like those BTC are going to be sold soon, as the number of bitcoin on exchanges reached a one year low.
“The amount of USD that buyers invested in BTC just made a new all-time-high,” commented crypto trader and analyst Luke Martin, aka Venture Coinist, on a record set four days ago. “Realized market cap measures the value of all coins at the price they last transacted. Price isn’t there yet, but conviction is,” he concluded.
At pixel time (15:52 UTC), BTC is changing hands at USD 9,696. It went up 2.05% in a day and 2.51% in a week. Meanwhile, Ethereum is trading at USD 243, having appreciated 1.79% in 24 hours and 4.78% in 7 days.