Ethereum On-Chain Analysis: Supply Count Statistics
It is time to put back on our #Ethereum on-chain analysis hat! In this video, we investigate supply count statistics. Specifically, we discuss the total amount of #Ethereum held by wallets holding between certain amounts of #Ethereum. Do remember that on-chain analysis does not capture everything, but hopefully can provide a bit more insight than just relying on price charts. What do you think of this on-chain analysis on #Ethereum? Let me know in the comments!
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Disclaimer: The information presented within this video is NOT financial advice.
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I’d love to see more on chain analytics from you
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When analyzing on chain data I find it particularly interesting to overlay the Newsworthy historical Fundamentals, such as when (with ETH) announcement of upcoming staking of 32 ETH and the date when staking went live. These dates could be shown as vertical lines across each of these time frames.
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In a future ETH on-chain analysis video would you mind speaking to the effects of ETH holders locking up their ETH via the ETH2 (or whatever we call it now) staking contract? Last I checked there were something like 9.3M ETH in there. In the metrics it might seem that people are getting rid of their ETH (balances in wallets go down = bearish), but in reality they believe in ETH so much that they are willing to lock up that ETH indefinitely (bullish). Just a thought. 🙂
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And moving coins to L2 Arbitrum etc. also looks berish on-chain, but it’s actualy very good sign
Thx Ben for the info on ETH wallet size and trends! What about the amount of ETH that has been staked ? How does staking affect wallet size trend? Always appreciate your informative videos!
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What a gem Benjamin is! Do one for LINK, sentiment in link seems good long term but price is underperforming. Would be interested to see your take on onchain data.
can anyone explain the security issues that accompany cross-chain networks? like the recent hack that happened and what that means for the future of cross-chain vs multi-chain
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bridging ETH to alternate L1s and the migration to L2s will dramatically influence those stats, since ETH is a collateralisable asset on most chains.
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Definitely interesting Ben? Would be good to see the amount of ETH in wallets compared with the increase in NFT sales. Is that something that you can get?
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i think the steady increase in wallets of the first two groupings indicate more and more people wanting to use ETH for defi and NFTs not just hodl. i think thats a good sign for greater consumer adoption
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Interesting analysis. Always helpful to know what’s going on, thanks!
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Ben there’s no need to downplay your content, man. I’ll dubiously speculate and say that most of us who appreciate your usual level-headed analysis are appreciating the on-chain analysis too. Keep it up, I’ll keep liking these videos.
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I really enjoy these on-chain videos. At the very least, they’re a fascinating look into what’s going on in the subject crypto beyond just exchange prices.
Thankyou for them.
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Not dry, interesting and well presented. Thanks Ben.
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Stop apologising Ben, your content is always interesting and informative.
I totally agree with you 🙂
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Ben, I like you because you’re not a sellout to anything. Your interpretation of data is keen and you’re very consistent with your content. You’re making it easier for my emotional self to stay long term oriented, it’s something I’m personally grateful to you for. Just wanted to say tyvm for everything you do.
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☝️?-Yes, that’s the *Real Ben Cowen* …
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happy to help!
I do not know why people wouldn’t want on chain analysis, I find it thoroughly interesting
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The sharp increase in wallets holding upto 0.1 ETH might be due to the fact that ETH 2.0 would eliminate miners and presently they are holding their ETH to participate in the staking to become a validator. Small minors might sell after the pump on the news.
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on-chain blah blah blah
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This is all great OCA Ben much appreciated, would be interested to see other Alts on-chain analysis and your take on this relevant datas. eg SOL, MATIC, DOT etc whatever you see as major alt influence moving forward in this cycle, cheers mate
does blah blah blah bleed against ethereum?
Would love to see you do a video with glassnode
Does this account for people switching from Eth to ETH.2/S?
Love the content, Ben! Keep up the on-chain data comming ?!
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Not boring at all! Thanks Ben for another interesting video, I really like these on-chain videos. I never realized that 70% of the total ETH supply is in hands of wallets that hold a minimum of 10k ETH. So a relatively low amount of wallets own 70% of the total ETH supply
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The group promotion/demotion via accumulation/distribution (respectively) should be verifiable by tracking individual address balances instead of just address balances in aggregate. If that’s too data intensive then it’s probably roughly verifiable by sampling random wallets in each group over time.
I suspect if you overlay the opening of staking launchpad you’ll see a steady transfer from the lower groups to the (ultra) high as ETH is locked into the staking contract through various avenues (Rocketpool, exchange staking services, etc)
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