Small-Time Ethereum Holders Hit New High As Sentiment Turn Positive

The number of Ethereum small-time holders is on the rise. With each passing month, as more investors move into the market, ethereum has snatched some of the largest market shares. This is evidenced in the growth rate of the network, as well as the amount of ETH being held by investors on their balances. This time around, the number of ETH small-time holders has hit a new record. Holders Holding More Than 0.1 ETH At ATH Glassnode reported on Monday that the number of small-time Ethereum investors holding more than 0.1 ETH on their balances had touched a new high. This easily follows the trend of adoption that the ethereum network has seen in recent times. These small-time holders clocked in at a new high of 6,823,620 on Monday. Related Reading | The Uber Rich Investors Are Picking This Altcoin Over Bitcoin Although the growing adoption of the network is billed as one of the major driving factors behind this, it is can also be a result of the growing gas fees on the network. For one, ethereum transaction fees can run above $100 on bad network congestion days, which can be often, so investors would need about 0.1 or above to complete transactions on the network. This trend of wallet balances hitting new all-time highs follows the accumulation trend of ETH though. During the market crash, Ethereum whales had bought over $500 million worth of ETH. Smaller investors had followed this move and increased their holdings, leading t...