Ethereum hits a monthly high

by in Cryptocurrency News

ETH

Ether (ETH) proved to be one of the most successful altcoins this week. The coin has risen in price by 39% over the past seven days to $ 1519 - this is the maximum value since June 12.

Last night, ETH briefly broke above $1600, but did not hold the position in this area and retreated. Cryptocurrency capitalization during the Asian session on July 19 approached $185 billion.

According to the Santiment team, the steady growth in the cost of Ether in July was the result of another activation of whale addresses with a balance of 1,000 to 100,000 ETH. These wallets have been buying altcoin for the past few months.

They took advantage of the May and June collapse of the coin. Since the beginning of May, 131 more addresses have appeared on the Ethereum network with a balance of up to 100,000 ETH.

Trending: Stake, Mint, and Get Access to Yield Farming with WEWE Global

Ethereum wallet activity has been on the rise since the end of June. According to EtherScan, the average daily number of transactions on the blockchain reached 1.213 million by July 18.

Users are preparing for the next update of the ETH blockchain. According to the developers, the “merger” of the network should take place in September 2022.

As a result of the sharp appreciation of Ethereum, the share of profitable addresses reached 58%, that is, these investors purchased the altcoin at prices below $1,500.