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Alex Dovbnya

Ethereum's micro wallet segment surpasses 100,000, marking a significant milestone in the diversification and growth of the Ethereum network

Ethereum's micro addresses holding less than 0.1 ETH have surpassed the 100,000 wallet mark for the first time, according to data from Santiment.

This milestone highlights the growing adoption and diversification of Ethereum holdings, even as larger wallet categories, including those holding between 0.1-10 ETH and over 10,000 ETH, also see an uptick in numbers.

Whales, or large holders of Ethereum, currently account for a 32.94% concentration, holding about 40.83 million ETH, according to data provided by IntoTheBlock.

Smaller investors boast combined holdings that account for 12.48% of the market, equivalent to 15.47 million ETH.

The recent trends in Ethereum's address holdings indicate a growing interest from small-scale investors (as evidenced by the increase in the smallest wallet categories).

In contrast, larger wallet categories are experiencing a decrease, suggesting a strategic redistribution or liquidity-seeking behavior

Adding to the excitement in the Ethereum market is the news that asset management behemoth BlackRock plans to launch an Ethereum exchange-traded fund.

This move is widely speculated as a precursor to filing for an Ethereum-based exchange-traded fund (ETF). Following BlackRock's registration of the iShares Ethereum Trust, the price of Ethereum soared above the $2,000 level, marking its highest level since April.

This development echoes a similar pattern observed earlier in the year when BlackRock registered a Bitcoin trust, followed by a proposal for a spot Bitcoin ETF.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. Hes particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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Ethereum Micro Wallets Hit 100K: Santiment - U.Today