Ethereum Active Addresses Reach Yearly High as ETFs Potentially Increase ETH Holdings
Main Idea
Ethereum's daily active addresses surged to a yearly high of 841,100 in July despite a price drop, while Ethereum ETFs absorbed significant amounts of ETH, reflecting growing institutional demand.
Key Points
1. Ethereum's daily active addresses reached 841,100 in July, the highest level this year, despite a price drop from $3,875 to $3,540.
2. Ten spot Ethereum ETFs collectively absorbed 8,183 ETH worth $29.83 million on August 1, with BlackRock's ETHA leading the inflows.
3. BlackRock's ETHA acquired 4,841 ETH ($17.65 million), now holding over 3 million ETH worth $11.04 billion.
4. Other notable ETF inflows include Grayscale Ethereum Trust (1,989 ETH) and Fidelity Ethereum Fund (1,498 ETH).
5. The surge in active addresses and ETF inflows indicates strong network activity and institutional interest, despite price volatility.
Description
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