Retail Interest in Ethereum Skyrockets as Small ETH Addresses on the Rise
The interest in Ethereum from retail investors has skyrocketed in the past few weeks. Apart from the Google searches reaching all-time high levels beyond the 2017/2018 craze, the number of wallet addresses with relatively small ETH portions has seen new records as well.
Google Trends Sees ATH For Ethereum Searches
Google trends data is typically a good indicator of the behavior of retail investors, especially when it comes down to less-known investment assets, such as the crypto field. The number of searches generally sees a significant increase when there’s a massive price movement in either direction.
For instance, the Ethereum searches on Google saw unseen highs during the 2017/2018 parabolic price increase when the asset skyrocketed to its ATH of $1,450. During the subsequent year-long bear market, though, the interest essentially disappeared apart from a few short-term glimpses during times of high volatility.
ETH’s current bull run, which saw its price surge from $350 in early October to about $1,300 in January, has attracted the retail masses once again. The worldwide “Ethereum” Google searches have exploded in the past few weeks and marked a new all-time high, as ETH was marching into a four-digit price territory.
Small ETH Address To New Highs
Another reliable sign of the growing appetite of retail investors are wallets with relatively modest Ethereum holdings. This is where data from Glassnode showed significant upticks and records for non-zero addresses and wallets with 0.01 ETH and 0.1 ETH.
The non-zero wallets have been gradually increasing since 2018 and recently broke above 50,000,000. The new ATH came at nearly 52,500,000.
Addresses with at least 0.01 ETH surged past 11 million. The graph below demonstrates that the growth of such wallets picked up in late 2020 – just as the asset’s price started to appreciate more rapidly.
Lastly, the addresses with 0.1 ETH or more have also marked a new record of over 3,715,000. The growth of such wallets had slowed down briefly a few months back but started to increase in accordance with the asset price.
