The number of Ethereum addresses holding at least one ETH ($593) has again hit an all-time high. Data released today by metrics site Glassnode showed that the figure now stands at 1,175,681.
Why? Because the price of Ethereum has soared this year and mania around the asset is increasing. It is also the platform most decentralized finance products are built on—and 2020 has been the year of DeFi.
📈 #Ethereum$ETH Number of Addresses Holding 1+ coins just reached an ATH of 1,175,681
Previous ATH of 1,175,651 was observed earlier today
In the past six months, the number of wallets holding 1 ETH or more has increased by more than 12%.
That may not sound like much but it shows that interest in the second-biggest cryptocurrency by market cap is growing—and that we are well and truly in a bull market.
Still, we aren’t quite where we were in 2017, when the price of ETH hit an all-time high of $1,300. Back then, wallets holding one ETH or more soared by over 1000% in the space of 12 months.
Currently, the price of ETH is $594, an increase of 9.5% in the past week, according to data from CoinMarketCap. The price of Ethereum has sharply risen ever since Bitcoin, the largest coin by market cap, started rising in October.
Bitcoin this week blasted past its all-time high price of about $19,500, set in 2017, to a few hundred dollars higher than that. The price of Bitcoin is $19,115, as of this writing.
ECD Automotive Design, Inc. has secured $500 million to acquire and store massive amounts of Bitcoin in a corporate treasury, according to the firm’s statement on Monday—a business strategy that has gained traction among a number of public companies over the past few months.
The Florida-based car restoration company, which bills itself as the largest restorator of Land Rovers and Jaguars, signed a $500 million equity facility with ECDA Bitcoin Treasury LLC, according to its press release.
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Positive legislative and regulatory developments buoyed Coinbase’s stock last week, among other events boding well for the crypto exchange’s long-term growth prospects, investment bank Benchmark, wrote in a Monday note.
The company’s share price jumped more than 23% as Coinbase secured a Markets in Crypto Assets, or MiCA, license and a bipartisan slate of U.S. lawmakers passed the GENIUS Act in the Senate, which seeks to establish federal rules for stablecoins, Equity Research Analyst Mark Palme...
Social media personality and crypto investor Anthony Pompliano unveiled a $1 billion merger on Monday to create ProCap Financial, a Bitcoin-native financial services firm that will soon join a growing list of companies stockpiling the asset on the Nasdaq.
Pompliano, who began promoting ProCap in April, said on X, formerly Twitter, that he had recently raised $750 million from “leading institutional investors on Wall Street” for the blank-check firm, alongside heavy hitters in the cryptosphere.
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