Number of dormant Ethers $ETH spiked over four-year high, glassnodealerts says
The last time this number of Ethers was registered in this category was on Oct. 10, 2018. To provide context, this happened when Ethereum was worth $230.
To some extent, this can be interpreted as a signal of confidence demonstrated by long-term holders of Ethereum coins amid a bearish recession.It also should be noted that the Ethereum supply is increasing: as such, the 2018 high was more impressive in term of the share of the dormant Ether supply.On Nov. 4-5, the Ethereum price spiked to its highest levels in seven weeks. Its local top was registered over $1,660 on major spot exchanges.
Besides an overall increase in cryptocurrency capitalization, the Ethereum price spike can be attributed to the release of the updated post-Merge roadmap by Vitalik Buterin.
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