{"id":25384,"date":"2022-04-28T08:35:07","date_gmt":"2022-04-28T12:35:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=25384"},"modified":"2022-04-28T08:35:14","modified_gmt":"2022-04-28T12:35:14","slug":"what-does-it-mean-for-prices-if-bitcoin-ethereum-have-more-unique-holders","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/what-does-it-mean-for-prices-if-bitcoin-ethereum-have-more-unique-holders\/","title":{"rendered":"What Does It Mean For Prices If Bitcoin, Ethereum Have More Unique Holders?"},"content":{"rendered":"\n
As their prices hovered around support levels, Bitcoin (BTC) and Ethereum (ETH) saw a rise in unique addresses<\/a>. Concerns over a market meltdown have kept the two largest cryptocurrencies at their respective support levels for several weeks.<\/h5>\n\n\n\n
\"What<\/figure><\/div>\n\n\n\n

The BTC price has fallen twice in the last two weeks, briefly to near $38,000 level before rapidly rebounding to $40,000. Similarly, the price of Ethereum (ETH) has risen from below $2800. During these fluctuations, the on-chain data development is fascinating.<\/p>\n\n\n\n

Bitcoin, Ethereum undergo healthy redistribution<\/strong><\/h3>\n\n\n\n

Since Russia's invasion of Ukraine, the number of Bitcoin addresses has been steadily increasing, according to Santiment, an on-chain analytics platform.<\/p>\n\n\n\n

There are 1,629 shark and whale addresses\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> holding between 10k and 100k BTC in the last two months. The whale addresses, interestingly, are either new or have reverted to millionaire status. As a result, the number of whales is growing along with their Bitcoin accumulation.<\/p>\n\n\n\n

\"What<\/figure><\/div>\n\n\n\n

In fact, current data shows that Bitcoin's supply is being redistributed between $38k and $45k. As a result, the number of long-term investors has declined while the number of short-term investors has increased.<\/p>\n\n\n\n

Ethereum is also undergoing a healthy redistribution of ETH supply at the moment. According to data from Santiment<\/use><\/svg><\/span><\/a>, the number of unique addresses on the Ethereum network has increased somewhat despite the price drop.<\/p>\n\n\n\n

This has resulted in an upward trend as well as a bullish divergence in ETH prices. While prices are falling, the growth in daily active addresses is a clear indicator that prices are going positive. As a result, the Ethereum price may gain bullish momentum, as the chances of it falling below the support level are slim.<\/p>\n\n\n\n

\"What<\/figure><\/div>\n\n\n\n

In fact, when the Ethereum network transitions to proof-of-stake (PoS), the price of ETH may grow more.<\/p>\n\n\n\n

BTC, ETH trading beyond strong support level<\/strong><\/h3>\n\n\n\n

Bitcoin (BTC) and Ethereum (ETH) whales<\/a> are buying at dips as sentiment remains in the ‘fear' zone. BTC and ETH prices have increased by approximately 3% and 1% during the last 24 hours, respectively. Moreover, both BTC and ETH are moving higher in ascending channel patterns. Investors should, however, wait for a clear breakout above resistance levels.<\/p>\n","protected":false},"excerpt":{"rendered":"

As their prices hovered around support levels, Bitcoin (BTC) and Ethereum (ETH) saw a rise in unique addresses. Concerns over a market meltdown have kept the two largest cryptocurrencies at their respective support levels for several weeks. The BTC price has fallen twice in the last two weeks, briefly to near $38,000 level before rapidly […]<\/p>\n","protected":false},"author":32,"featured_media":25396,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[76],"tags":[149,153],"class_list":["post-25384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-price","tag-btc","tag-eth"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/btc-eth.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/25384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=25384"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/25384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/25396"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=25384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=25384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=25384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}