The number of Ethereum coins stored in mining pool addresses has returned to an all-time high of 1.69 million ETH.established in October. Such data are provided by the information and analytical platform Santiment.
</p>The last three months have been marked by a stable and continuous accumulation of the second cryptocurrency by miners, said the founder of Santiment Maxim Balashevich.
«These accumulation periods generally indicate a high level of confidence in the project among the majority of block creators, at least relative to current market conditions».he added.
Miners have been actively accumulating ETH since July, despite the cryptocurrency price falling from an annual maximum. Only at the end of October, amid falling below $ 170, some of them got rid of assets.
Santiment researchers also noted that inEthereum network continues to grow «average age of coins» — the time they spend without moving at their current addresses. If as of January 1, 2019, 54.6% of the total amount of ETH were active during the year, then at the end of January 2020 this figure dropped to 39.6%.
With the advent of the ETH staking mechanism and the further development of the DeFi sector, this trend will continue, Balashevich said.
Let's remember that Ethereum co-founder Vitalik Buterin recently said that the platform is «stronger than ever before».
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