Amid a rapid rally in Ethereum, its realized market capitalization rose by $25 billion since the start of the year, according to Coin Metrics.
At the start of January, realized capitalization stood at $49 billion. By the time of writing, the figure had reached $75 billion.
First introduced in 2018, the realized capitalization metric provides a long-term, low-volatility measure of cryptocurrency value. In calculating realized capitalization, the price of each coin at the time of its last on-chain transaction is used.
“The substantial rise in Ethereum’s realized capitalization points to an inflow of new capital,” — поделились мнением аналитики Coin Metrics.
Additionally, the number of addresses with 10,000 ETH or more has risen since the start of the year.
Data: Coin Metrics.
On January 1, there were 1,178 such addresses, and by the time of writing they had reached 1,246 (+5.7%).
“These large addresses, where holdings are at least $14 million, potentially signal that institutional investors are beginning to buy ETH,” the experts suggested.
Earlier, Glassnode researchers concluded that the main driver of Ethereum’s growth were large investors.
Additionally, Galaxy Digital, Mike Novogratz’s crypto bank, will launch Ethereum-based funds in February — one for institutions, two for retail investors.
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