The August 8th trading session was interesting. ethereum According to HODLers data when the price of a major altcoin surpassed $1,800 for the first time in two months, santimento clearly.
Over the past 30 days, the ETH network has traded coins on over 546,000 active addresses every day. Santiment indicated that this is the highest rate in the daily active address index that the altcoin has registered so far this year.
Fortune smiled at major altcoins
At the beginning of the July bull market, Ether traded at $1,059. Closely correlated with Bitcoin, ETH’s price surged as Kingcoin’s price rose.
During the intraday trading session on August 8, ETH traded above $1,800, up more than 40% over the past month.
Additionally, the Ethereum network has seen over 15 billion transactions per day over the last 30 days.
Source: Santimento
ETH, which is trading at $1,771.66 at the time of this writing, has registered a price increase of 2.39% over the past 24 hours. According to data from CoinMarketCap, trading volume increased by 69% over the same period.
On the 4-hour chart, a gradual accumulation of ETH coins was underway at the time of this writing. The coin’s Relative Strength Index and Money Flow Index were found at 63 and 74 respectively.
Source: Trading View
On-chain analysis
Over the past 30 days, wallet addresses holding between 100 and 1,000 ETH coins increased their ETH holdings by 1%.
According to Glassnode data, addresses on the ETH network holding more than 1,000 ETH coins hit a seven-month high of 6,333.
? #ethereum $ETH The number of addresses holding over 1,000 coins hits a seven-month high of 6,333
View metrics: https://t.co/iDNXAbLRt pic.twitter.com/ZKHGHgRzCZ
— Glassnode Alerts (@glassnodealerts) August 9, 2022
Additionally, larger whales holding between 100,000 and 1,000,000 ETH coins increased their holdings by 6%. However, since July 29, holders between 1,000,000 and 10,000,000 ETH coins have reduced their holdings by 14%.
Source: Santimento
The 30-day MVRV revealed that many investors were profitable as the prices of major altcoins surged over the past 30 days.
At the time of writing this was +16.36%. Interestingly, the weighted sentiment at the time of this writing was -0.32.
This shows that some investors are still skeptical even though the general market remains bullish.
Source: Santimento
Development activity on the Ethereum network has increased over the past 30 days, especially as the Proof of Stake merge is scheduled for the next few weeks.
Source: Santimento
