Ethereum Addresses In Profit Hits ATH As ETH Soars By 8%

23 Jul, 2020 Updated 25 Jul, 2022

By Sahana Kiran

Contributor

Sahana Kiran is a graduate in Political Science, Economics and Journalism. She is a full-time crypto writer at CoinGape and takes a keen interest in cryptocurrencies, especially Ethereum and Bitcoin. Even though she's not a HODLER yet, she has eyes on Bitcoin.

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ETH On An Upward Trajectory?

The first two weeks seemed to be eventful for altcoins. As Bitcoin continued lounging below 10K, several altcoins rose to significant heights. While lesser-known altcoins outperformed prominent coins like LTC, ETH, and BNB, during the recent alt season, the roles are evidently reversed now. The price of Ethereum’s ETH was observed rising.

Earlier today, the entire crypto market including Bitcoin had turned green. However, a few altcoins were seen performing better than the rest. This list included Chainlink [LINK] as well as ETH. Even though the Ethereum devs have been delaying the Ethereum 2.0 rollout, the price of ETH seems to be moving favorably for the community. At the time of writing, the price of the coin had hit a high of $263.90 with a 8.6 percent increase over the last 24-hours.

The coin did witness dainty price changes during the altcoin price rally and just during this week, ETH had garnered a 10.7 percent.

Furthermore, as the price of the altcoin continued its journey uphill, the total number of Ethereum addresses in profit was also recording an increase. The number of ETH addresses in profit has been tapping new all-time highs on a daily basis now. Earlier today, an all-time high of 26,461,041.375 was recorded, however, this was further breached by another high of 26,537,344.958. Prominent analytics platform, Glassnode shared a chart displaying the same.

This further indicated that the total ETH addresses that were in loss were at a 4-month low of 17,340,657.250.

Good News For Ethereum 2.0 Anticipators

Phase 0 of Ethereum 2.0 was initially scheduled to be released in the Q1 of 2020, however, it seems like the network has to do some more waiting before traversing from Proof-of-Work to Proof-of-Stake. While Ethereum 2.0 had been constantly delayed by the team, the latest news comes as a ray of hope for those in anticipation of the rollout. Ethereum’s Danny Ryan revealed that the final public testnet for Ethereum 2.0 was all set to be launched on 4 August 2020.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.