The team at research firm Glassnode noted that the number of Ethereum wallets containing 0.01 ETH or more reached a record high of 15,710,361 addresses.
Such a large number of Ethereum addresses containing 0.01 or more ETH indicates two things.
Firstly, the Ethereum ecosystem is growing, and more and more users are joining the network to work on various DeFi platforms or using ETH to pay for gas in transactions with ERC-20 tokens. Second, it could mean that more retail investors are hoarding Ethereum on a long-term basis.
Long-term Ethereum investors often block their ETH in the Ethereum 2.0 contract. At the time of this writing, 5,179,010 ETH worth $ 12.243 billion were blocked in a deposit contract. This amount continues to grow every day as investors and Ethereum users continue to show their support for the upgrade.
In general, despite the current price correction of the crypto market, the dominance of Ethereum continues to increase, confidently moving towards 18%.
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