On-Chain Analysis: Interest in ETH Remains High Despite Correction

2021-6-18 18:40

A look at on-chain indicators for Ethereum (ETH) in order to determine if the recent drop has waned the interest of participants in the market.

Interest in ETH remains high both in the form of increased staking and higher percentage of the supply that is locked in smart contracts. 

ETH use on Uniswap

The first thing we will take a look at will be the number of transactions on Uniswap, which is the largest decentralized exchange (DEX). 

Despite the drop, the number of transactions on is still high. There were 161,317 transactions on June 15, a level similar to that of April. 

Therefore, participants are still using their ETH in order to make transactions on Uniswap, being relatively unfazed by the sharp drop.

Chart By Glassnode

Furthermore, the mean amount of gas used per transaction is also relatively high, likely as a result of the high number of transactions. It is currently 80,515, which is a yearly high, and not that far off from the all-time high of 90,314.

This is not the same as the mean gas price paid per transaction, which has fallen considerably as a result of the decrease in the ETH price.

Chart By Glassnode Exchange movement

An interesting development is that ETH is still continuously leaving exchanges, something that has been going on since the end of January.  Therefore, investors are either moving it to cold storage or staking it in anticipation of ETH 2.0.

Source: Twitter

The number of validators, meaning accounts that are depositing tokens to the ETH2 deposit address, are increasing.

On June 15, there were 83,592 validator accounts, which is a new all-time high.

This indicates that investors are staking tokens in anticipation of ETH 2.0.

Chart By Glassnode

Finally, a look at the percentage of ETH supply in smart contracts is also currently at an all-time high of 23.29%.

Chart By Glassnode

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.b

The post On-Chain Analysis: Interest in ETH Remains High Despite Correction appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3102.9 (-0.03%)
Объем 24H $11.091b
Изменеия 24h: 0.28 %, 7d: 4.59 %
Cегодня L: $3055.33 - H: $3131.6
Капитализация $372.741b Rank 2
Цена в час новости $ 2329.95 (33.17%)

on-chain interest eth correction despite high analysis

Источник: beincrypto.com

on-chain interest → Результатов: 30


Binance извинилась перед сообществом Steem за помощь Джастину Сану

Криптовалютная биржа Binance принесла извинения сообществу блокчейн-проекта Steem за помощь, оказанную основателю TRON Джастину Сану в разморозке его счетов. A Letter to the @steemit Community#Binance stays neutral and has no interest in on-chain governance beyond the Binance ecosystem.

2020-3-10 20:46


Фото:

Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way.

2018-7-21 23:03


Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.

2018-7-21 23:03


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

BTC On-Chain Analysis: NUPL Supports Continuation of Bull Market

A look at on-chain indicators for both Bitcoin (BTC) and Ethereum (ETH) in order to make sense of the current market movements. Net Unrealized Profit/Loss (NUPL) has moved above the 0. 5 threshold once more, possibly signaling the continuation of the bull run.