Ethereum Whale Supply Last Active 7 Years Ago Hit New ATH

As small-scale investors continue to pour into Ethereum, the supply of ETH that was last active 7 years ago remains unsold.

Ethereum Whales Wallets Remain Inactive

According to statistics from the Glassnode data aggregator, small-scale investors are actively acquiring Ethereum, the second largest cryptocurrency on the market, while 7.6 million ETH last active in 2015-2017 remain unsold.

The holders of Ethereum stocks who last moved their crypto five and seven years ago, i.e. in 2017 and 2015, have hit a three-month high, according to Glassnode.

This offering currently stands at 7,666,690,968 ETH ($21,557,791,247).

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Small addresses are piling up

Despite the fact that the price of Ether (ETH) is up more than 20% since its February 22 low of $2,300, data from derivatives suggests that investors remain wary. The price of Ether is down 24% this year and there are critical overhead resistances ahead.

High network transaction costs have been Ethereum’s most pressing problem, and investors worry it will remain an issue even after the long-awaited network improvements are implemented.

ETH/USD is trading at $2.9k. Source: Trading Display

According to Glassnode, smaller investors have accumulated Ether in increments of 0.01 ETH, 0.1 ETH, 10 ETH and 32 ETH.

The number of wallets holding these amounts of Ethereum has hit new highs – 0.01+ coins – 21,929,193 ATH, 0.1+ ETH – 6,960,421 ATH, 10 ETH+ – 280,792 coins – a year high. 32 ETH+ – 107,876 ETH+ – highest in a month.

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Featured image from Pixabay, chart from TradingView.com

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