Recent report reveals that the second biggest crypto shows signs of bottoming out, while the number of new investors hits an all-time high
In a recent tweet, Santiment on-chain data provider has shared that the number of ETH transfers while the participating addresses were at a loss exceeded that of when wallets were in profit by roughly 3.4 times.
That was the biggest increase of this ratio over the past 3.5 years (since mid November 2018).
Santiment team believes that this may be a sign of Ethereum bottoming out.
? On the #Ethereum network, there were about 3.4 times as many transactions taken while coins were at a loss compared to in profit, on Friday. This was the highest day, in terms of $ETH‘s capitulation trading ratio since Nov 18, 2018, or 3.5 years ago. https://t.co/Y7YKjknv7L pic.twitter.com/hXLkHsgFB2
— Santiment (@santimentfeed) May 7, 2022
As for the number of Ethereum wallets in loss, according to data shared by Glassnode, it has hit a 2-year high, reaching 24,513,674.851.
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The number of ETH wallets in profit has dropped to a one-month low of 55,470,222.548.
While Ethereum has lost slightly over $1,000 since the start of the year, dropping to $2,661, new investors keep entering the ecosystem. As per Glassnode, the number of non-zero wallets has soared to a new historic peak of 80,166,298.
? #Ethereum $ETH Number of Non-Zero Addresses just reached an ATH of 80,166,298
View metric:https://t.co/beS1MtIgAZ pic.twitter.com/aFzyYEoO2G
— glassnode alerts (@glassnodealerts) May 7, 2022
Small investors are also flowing in – the amount of wallets that hold 0.01+ ETH has climbed to an all-time high of 22,629,104.
Source: https://u.today/ethereum-shows-bottoming-out-sign-after-highest-capitulation-trading-ratio-in-35-years-report