Ethereum On-Chain Metrics Hit New Milestones

Ethereum's On-Chain Metrics

Ethereum (ETH) has recently achieved significant on-chain milestones, signaling potential shifts in market trends. A decrease in ETH exchange inflow suggests a reduction in selling activity among traders. Currently, ETH is priced at $1,809.94, reflecting a slight gain.

Key On-Chain Milestones

Recent analysis reveals three critical on-chain metrics for Ethereum. The first is the supply last active in the 1-week to 1-month range, which has hit a three-month low. This figure now stands at 6,286,324.517 ETH, marking a decline from mid-May's previous low.

Another noteworthy milestone is the number of ETH addresses in loss, which reached a one-month high at 33,949,357.214. This increase suggests that more traders are holding onto their ETH despite recent price downturns.

The third metric is the exchange inflow, which has dropped to a one-month low of $17,212,337.35. This trend implies a bullish sentiment as fewer investors are selling their ETH holdings.

Market Performance

Despite the fluctuations in on-chain metrics, ETH's price has experienced a 0.57% increase over the past 24 hours. However, on a weekly scale, ETH's performance remains negative with a 5.08% decline. Interestingly, ETH has slightly gained strength against Bitcoin (BTC) within the same timeframe.

Investor Implications

These on-chain metrics provide insights into investor behavior, possibly indicating a shift towards long-term holding. As the exchange inflow decreases, it may suggest growing confidence in ETH's future value.

While these metrics offer valuable perspectives, investors should conduct thorough research and remain cautious in their trading decisions. The current trends highlight the dynamic nature of the cryptocurrency market, underscoring the importance of staying informed.