With a price dip of over 12%, Ethereum has remained the worst-performing digital currency among the top 10 in the last seven days. However, Glassnode’s recent data indicates that the total number of ETH addresses with non-zero balances reached 85.367 million on Wednesday, which is the highest level on record.
Active Ethereum supply, on other hand, has jumped significantly in the last few weeks. The amount of Ethereum supply that was last active approximately one month ago touched 15.6 million today, which is the highest level in three months.
“The number of non-zero Ethereum addresses just reached an ATH of 85,367,215. The amount of ETH Supply last active 1m-3m (1d MA) just reached a 3-month high of 15,603,339.480 ETH. The previous 3-month high of 15,599,272.229 ETH was observed on 09 June 2022,” Glassnode highlighted.
On Wednesday, Ethereum stayed above the price level of $1,640 after a marginal jump of almost 1%. The world’s second-most valuable cryptocurrency regained the market cap of $200 billion today. The current market dominance of ETH stands at around 19.5%.
Crypto Adoption
Despite challenging market conditions, the adoption of digital assets has increased since the start of 2022. Commenting on the latest developments across the crypto market, Marcus Sotiriou, an Analyst at GlobalBlock, said: “Mastercard is working on how it can be part of crypto’s race to global mass adoption, as they have partnered with Binance to launch a crypto prepaid card in Argentina. Mastercard's CEO says this will let people spend crypto at more than 90,000,000 stores. When using this card, crypto will be converted to fiat currency in real-time at the point of purchase, and cardholders will earn 8% crypto cashback on all eligible purchases.”
“MasterCard’s plan to integrate crypto could be an eye-opener for its competition like Visa, who may follow in MasterCard’s’ footsteps, in order to lead the payments industry in this sector,” Sotiriou added.
