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Number Of ETH Addresses Holding 0.1 ETH Hits ATH: Analysis

The number of ETH addresses holding 0.1 ETH hits an all-time high so now there are smaller holders than ever before according to the latest analysis that we have in our latest ethereum news.

According to the glassnode data, the number of ETH addresses holding 0.1 ETH has hit an all-time high and these holdings are quite small but it is a metric of adoption which already made waves among the BTC holders. According to reports on BTC holders from the data provider, these holdings of less than 1 BTC are called “Shrimps” in the crypto food chain. The report includes crabs as well of 01 BTC, octopuses with 10-50 BTC, fish with 50-100 BTC, dolphins with 100-500 BTC, sharks with 500-1000 BTC, and whales with 1000-5000 BTC. It is unclear the exact creature of mini-ETH holder what does it resemble but this population of crypto supporters is growing faster than ever.

eth wallets
Ethereum wallets holding at least 0.1 ETH. Image Glassnode

The number of addresses with at least 0.1 ETH hit 3,978,224 and b today’s prices, 0.1 ETH is worth $310. as the graphs show, the total number of ETH addresses holding at least 0.1 ETH has been increasing for some time. At the start of last year, about 3,638,204 addresses held 0.1 ETH which shows the total number of addresses holding 0.1 EtH increased by 10% in one year. Going back to two years to date, the number of ETH addresses was set at 2,653,853 which means this metric increased by 50% in the past two years. During the time, Ethereum’s price also increased to $3102 so with the uptick in ETH holders, the data suggests that much of the accumulation was due in part to Ethereum’s rise since 2018.

As we reported previously, The infamous transaction fees in the ETH ecosystem underwent a decremental phase at the start of January to the record of the lowest average and median fees of $14.17 and $5.76 lowest since the December 2021 period. The data from Blockchair shows that the average transaction fees of ETH back in January was $53.03 which at the peak was $70.83 and in a month Ethereum’s median transaction fees saw a 73% drop as can be seen by the charts.

blockchain
Source: Blockchair

The resultant median transaction fees also saw an 81% drop from January $29.88 and in the last six months, Ethereum’s median transaction fee was at its lowest point in September $6.26. the transaction count on the Ethereum network came down to a number that was last seen back in 2019.

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Author: Stefan