Ethereum trades at $27bn daily

Most Ethereum holders are obviously smiling to the banks, as it trades at $26.2bn daily.

Ethereum is up 0.08 per cent for the day.

Data from Glassnode, a crypto analytic company, revealed that the number of whale wallets holding 10,000 Ether some days ago reached a 13-month high.

According to the report, since the beginning of this year, 35 new $ETH whale addresses have been created, controlling $447m combined, meaning that institutional investors are significantly responsible for the bullish trend playing out at the second most valuable crypto asset.

The data also revealed that 52 million wallets are now in a state of profit. In other words, the current price is higher compared to the price point at the time the coins were last kept in those wallets.

Data retrieved from Glassnode revealed that Ethereum number of addresses in profit just reached an all-time high of 52,471,986.

The prevailing bullish trend in the flagship utility crypto asset has to do with ETH 2.0 launch.

Every phase of ETH 2.0 over the next two to three years brings ETH closer to its final state and will be catalysts for Ethereum.

Anozie Egole
Anozie Egole
Anozie Egole is a Transport correspondent. He reports Maritime, Aviation and Rail/Road Transport for Financial Street.

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