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ETH Supply Reaches New High in Five Months

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It is reported that according to Glassnode data, the supply of ETH for the last active 6-12 months (1d MA) has just reached 13972630.49 ETH, a new high in near…

ETH Supply Reaches New High in Five Months

It is reported that according to Glassnode data, the supply of ETH for the last active 6-12 months (1d MA) has just reached 13972630.49 ETH, a new high in nearly five months.

Data: The supply of ETH in the last active 6-12 months reached a new high in 5 months

Interpretation of the news:


The recent report from Glassnode has shown that the supply of ETH for the last active 6-12 months (1d MA) has just reached a new high of 13972630.49 ETH, which marks the highest level in nearly five months. This development is significant for the world’s second-most popular cryptocurrency as it indicates increased activity and demand for ETH.

ETH is an open-source blockchain-based platform that supports smart contracts and decentralized applications. Ethereum, the cryptocurrency that runs on the ETH platform, has seen a surge in demand over recent months. The current surge in ETH supply implies that there is an increased need for the cryptocurrency for several activities such as providing liquidity, staking, and trading.

This new high in ETH supply is not only a significant development for the cryptocurrency enthusiasts but also for investors. It indicates that the cryptocurrency has been moving around more regularly in the past 6-12 months. This movement implies that there is a high demand for ETH in the market, which could be due to many factors.

Some possible factors driving the increased activity and demand for ETH include the growth of decentralized finance (DeFi) projects, the increasing use of non-fungible tokens (NFTs), and the rising popularity of Ethereum-based projects that offer unique products and services. These driving forces have led to increased capital inflows into cryptocurrency, which consequently results in an increase in demand for ETH.

In conclusion, the recent report by Glassnode shows that the supply of ETH has reached a new high in nearly five months. This development is essential for the cryptocurrency market and investors alike as it signifies increased activity and demand for the cryptocurrency. The growth of DeFi projects, NFTs, and Ethereum-based projects are some of the driving forces behind the increased demand for ETH. Hence, it would be interesting to observe how this trend would pan out in the coming months.

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