According to IntoTheBlock data, it emerged as an important detail that shows the interest of small investors in Ethereum investment. Ethereum addresses with balances between 0.1 and 1 ETH hit an all-time high. The increase in the number of wallets with relatively low ETH balances indicates that Ethereum continues to grow, potentially with widespread adoption. The data indicates that the number of currently low-volume Ethereum addresses has increased by nearly 100 percent since the same period last year. The amount of Ethereum currently held by wallets has reached 1.78 million ETH.
One of the biggest reasons for the increase in the number of low-balance wallets is that the Ethereum network has progressed smoothly on an important roadmap so far, and accordingly, the price performance has been positive. So much so that when the peak price in November reached $ 4,868 in 2021, it saw a 400 percent increase in value compared to the beginning of the year. This was interpreted as a very solid performance for Ethereum, which is in the second cryptocurrency position with its market value.
On the other hand, the Ethereum Blockchain hosts many popular crypto industries in recent years. In the NFT sector, especially in DeFi, the Ethereum network has the largest market share. In this case, it plays an important role in the increase in the number of low-volume wallets due to the use of Ethereum.
Due to the heavy use of the Ethereum network, it is known that 1.8 million Ether, currently worth $ 5.6 billion, has been burned. As it is known, after the EIP-1559 update on the Ethereum network, it was aimed to make Ethereum more deflationary by connecting the transaction fees to a burning mechanism.
In addition, although the number of low-balance wallets has reached an all-time high, the activity of this class of wallets is not moving in the same direction. This can be attributed to the high fees per transaction.