Recently, the Ethereum network achieved 3 significant on-chain milestones. Glassnode Alerts, a blockchain analytics firm, shared these milestones in three separate tweets.

The first milestone related to the total amount of ETH supply last active between 1 week and 1 month, which reached 3-month low of $6,286,324.517 ETH on 13 May 2023. The previous 3-month low of 6,287,315.302 ETH was recored earlier on May 13.

The second milestone indicated that the number of ETH addresses in loss over the last 7 days reached 1-month peak of 33,949,357.214 on 13 May 2023. Prior to this, a 1-month high of 33,921,082.321 was established on the same day.

The third milestone revealed the amount of ETH transferred to exchanges, which dropped to a 1-month low of $17,212,337.35, down slightly from the previous 1-month low observed on 14 April 2023 of $17,237,870.52. This may be a sign that investors and traders have refrained from selling their ETH holdings.

At the time of writing, ETH's price was $1,809.94, indicating a 0.57% increment from the previous 24 hours. Despite the price movement, the weekly performance of ETH showed a 5.08% downtrend. In comparison to Bitcoin (BTC), the market leader, ETH's performance rose by 0.08%.

These on-chain milestones for ETH are promising indicators for the cryptocurrency in the near future. However, readers should do their own research and due diligence before taking any action as warned by Glassnode Alerts and Coin Edition.



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