Similar to the many Bitcoin users worldwide, those who hold Ethereum will be equally excited these days. There is a new all-time high for ETH addresses in profit, which is rather bullish. Moreover, more addresses are holding 0.01 ETH or more, which is rather interesting. 

Ethereum Addresses In Profit Rise Up

It is good to see all major cryptocurrencies note a strong increase in addresses in profit. Although such momentum can turn around at any moment, things are certainly looking rather interesting these days. With Bitcoin noting a solid uptick in addresses in profit, the tone has been set for other cryptocurrencies to do the very same.

Ethereum is the first significant cryptocurrency to show very similar momentum. More specifically, the Ethereum number of addresses in profit has hit an all-time high, which is rather intriguing. Ethereum isn’t near its all-time high; thus, this metric paints a rather interesting picture for the second biggest crypto asset by market cap.

-Advertisement-

Source: Glassnode

Per the metric, there are now 61.227.592.619 Ethereum addresses in profit. That is a remarkable amount, although these metrics can occur for several reasons. Not every address represents a unique user. Even so, if holders moved the funds recently, it would have to be timed rather well to note a profit under the current circumstances. 

Assuming the Ethereum price will keep trending higher, there will be more addresses in profit over time. However, crypto assets remain incredibly volatile, and there is no indication of where things may head tomorrow or in the coming weeks. Even so, both Bitcoin and Ethereum have noted prominent bullish momentum lately, which is all holders can ask for at this time. 

More 0.01 ETH Holders

Another intriguing metric to keep an eye on is how many people hold an active Ethereum balance. Even though it is possible to hold tiny amounts, the crucial metric is 0.01 ETH or more. So far, it seems more and more people are interested in holding at least such a balance. The metric hit a new all-time high of 17,896,126 addresses, which may explain why there are more addresses in profit too. 

Source: Glassnode

All of these metrics paint an interesting picture for Ethereum right now. As there are more addresses in profit and more addresses holding a balance of 0.01 ETH, the network seems to be heading in the right direction. As the network is also burning transaction fees and will shift to proof-of-stake shortly, holding a small amount fo ETH may prove worthwhile for many users.