@$62254: Ethereum Hits Another Record High, Active ETH Addresses Jump
Ethereum is gaining bullish momentum due to a significant jump in its retail demand. Yesterday, the cryptocurrency became the first digital asset after Bitcoin to reach a market cap of $550 billion. ETH touched an all-time high of $4,643 on 2 November.
Additionally, Ethereum’s active addresses are rising. The recent data from crypto analytics platform Santiment indicates a 45% spike in active ETH addresses during the last 28 days. While its demand is on the rise, the overall supply has decreased in recent weeks.
ETH exchange supply ratio is plunging. As a result, traders have limited opportunities to sell the world’s second most dominant crypto asset on digital exchanges. In addition, leading Ethereum holders preferred staking under ETH 2.0 contract over trading on digital exchanges in the first 10 months of 2021.
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