21 November 2021 21:55, UTC
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The drop in Ether (ETH) last week triggered a sharp increase in the number of unprofitable addresses on the network. Now this figure exceeds 3.115 million – this is the highest value since the beginning of October, according to a review by the Glassnode team.
ETH dropped to $ 4,000 last Friday, November 19, and many were expecting a deeper pullback. However, in the same area, support increased and the altcoin was able to rebound. On the night of Monday, November 22, ether is trading at $ 4352, its capitalization is now just over $ 515.319 billion.
After the collapse of the cryptocurrency, transaction fees on the network fell sharply. According to Santiment, the average commission fell to $ 11.46, up from over $ 55 a week ago.
The demand for processing transactions weakened along with the altcoin rate, which led to their reduction in price. The average daily number of transactions in seven days fell from $ 1.353 million to 1.16 million.
Despite the drop in the cost of ether, whales continue to buy this cryptocurrency. At the moment, the ten largest OTC Ethereum wallets hold much more coins compared to whale addresses deployed on marketplaces.
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