• 17 July, 2024
News

Ethereum Has Been Quietly Powering the World’s Financial Infrastructure in 2023

While the technology has been under the radar, some interesting milestones have recently been achieved.

Recently, the 10 largest non-exchange addresses surpassed a total of 25 million ETH – a significant milestone that has yet to be seen since 2016. This is remarkable given the decentralization of Ethereum and its use as a store of value and platform for applications and smart contracts.

Source: Santiment

The 25 million ETH milestone is a testament to the whale investors that have been investing in Ethereum for years now, feeling confident in the long-term prospects of this technology. Unfortunately, as these whales accumulate more and more Ether, it becomes increasingly more work for small investors to move the price action independently.

This means that whales now have a greater influence on Ethereum’s price movements, and thus the entire market. Therefore, it is important to pay attention to these larger players as they will likely dictate where the market is headed in the future.

At this rate of adoption, it is safe to say that Ethereum will continue to power world financial infrastructure for years.  To learn more about the 25 million ETH milestone, whales, and other aspects of Ethereum, be sure to read our latest insight!

ETH technical outlook?

Ethereum is also continuing to evolve with the introduction of new technologies, protocols, and upgrades. The most recent upgrade, the Istanbul hard fork, has been well received by many in the Ethereum community as it brings increased scalability and security to the network.

Source: Tradingview

In addition, Ethereum developers are actively working on several exciting projects such as sharding, proof-of-stake and Plasma. Each of these projects is designed to improve the Ethereum platform in some way.

As these new technologies are developed and implemented, Ethereum will become an even more secure and efficient blockchain platform. This in turn will lead to increased adoption, which could ultimately result in higher prices for ETH holders.

Conclusion

Ethereum has been quietly powering the world’s financial infrastructure in 2023, and it is continuing to evolve with new upgrades and technologies. Recently, the 10 largest non-exchange addresses surpassed a total of 25 million ETH – a significant milestone that has not been seen since 2016.

This is remarkable given the decentralization of Ethereum and its use as a store of value and platform for applications and smart contracts.

Disclaimer:  This article is for informational purposes only and does not constitute investment advice. Investors should always conduct thorough research before investing in any asset.

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