#Ethereum Records 267K New #wallets , the Highest in Nearly 2 Years

Ethereum has seen a surge in new wallet creation despite market downturns, hinting at renewed interest in the network. Santiment data shows a spike of nearly 267,000 new wallets over April 28 and 29, the largest in nearly six months. This growth reflects ongoing enhancements in scalability and security.

CoinMarketCap data reveals that most Ethereum addresses hold small balances, with only a fraction having substantial holdings. Whales, though few in number, control around 40.75% of the circulating supply, each holding an average of $3.66 million worth of ETH.

Investor holding patterns vary, with the majority classified as long-term holders, indicating confidence in Ethereum's future. Medium-term holders make up a smaller portion, while traders holding for shorter durations represent the smallest group.

Despite a recent 3.80% price decline, Ethereum has outperformed the broader #cryptocurrency market, which saw an average decline of 8.80%. ETH's current price is $2,992, with a market capitalization of $355.6 billion.

Source - thecryptobasic.com