Ethereum just hit a wild milestone with a massive holder base that’s leaving Bitcoin in the dust. The chain pulled ahead with 189.49 million non-empty wallets three times Bitcoin’s 59.08 million.
Network Growth vs Market Performance
These stats dropped from Lisk research head Leon Waidmann and show Ethereum building this huge community even while price sat in bear territory. Tether slid in third with 13.61 million holders then XRP at 7.8 million and USDC close behind at 6.76 million.
Despite the adoption flex ETH dipped over 30% this past month and hovered near $1,620 recently. That slide hit some big holders hard like Nasdaq firm FG Nexus which booked more than $85 million in losses after trimming its stash under cost. They went all in around Ethereum’s 10th birthday aiming for big reserves but the downturn forced cuts.
Crypto analyst Michaël van de Poppe pointed out ETH’s daily RSI crashed to record lows hinting at extreme oversold vibes that often signal bear cycles wrapping up.
ETFs Reverse Outflow Streak
Spot Ethereum ETFs felt the heat too after 17 straight outflow days but flipped to $19.3 million net inflows on June 4 all from ETHA while the other nine stayed quiet. The week still closed with $168 million in net outflows overall yet flows look like they might be steadying according to SoSoValue. A real bounce will need fresh money pouring into ETH and majors alike.
Just another echo from the void by iconofsin.eth 💖
