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Benzinga
Benzinga
Business
Adrian Zmudzinski

Ethereum's On-Chain Fundamentals Point Towards A Bullish Future

Ethereum Crypto Glassnode

Things may be looking up for Ethereum (CRYPTO: ETH) with numerous on-chain data parameters painting a bullish picture for the coin.

What Happened: Data shared by blockchain analytics firm Glassnode shows today that the Ethereum blockchain supply which was last active from five to seven years ago has just reached an all-time high of 9,934,820 ETH — equivalent to nearly $18.5 billion as of press time. The firm also pointed out today the seven-day moving average of the number of Ethereum deposits to cryptocurrency exchanges reached a six-month low of under 1,300.

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