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Number Of Addresses Holding At Least 10K ETH Has Jumped In 2021, Suggesting Institutional Investors
Summary: The number of addresses holding at least 10K ETH has increased significantly since the beginning of 2021, according to a recent tweet from Coin Metrics. These large addresses, each holding roughly at least $12M, potentially signal that institutional investors are starting to buy ETH. The report comes a day after Coinbase's annual review for 2020 ...
The number of addresses holding at least 10K ETH has increased significantly since the beginning of 2021, according to a recent tweet from Coin Metrics.
These large addresses, each holding roughly at least $12M, potentially signal that institutional investors are starting to buy ETH. The report comes a day after Coinbase's annual review for 2020 came to the same conclusion reporting that institutional investors are opening ETH positions for its strong returns. At the time of writing, ETH is trading hands for $1,336 and is down 1.74%.
“The case for owning ethereum [ether] we hear most frequently from our clients is a combination of, first, its evolving potential as a store of value and, second, its status as a digital commodity that is required to power transactions on its network,” according to the report.
By Emily Mason
Tags: ETH,Ether,Institutional Investor
Link: Number Of Addresses Holding At Least 10K ETH Has Jumped In 2021, Suggesting Institutional Investors [Copy]
