Ethereum: problems with finalizing the transaction. Record number of bitcoin owners

Cryptocurrencies have lost ground over the past week as investors stalled in anticipation of macro data. Bitcoin is stuck around 10%. lower than their highs in early May. Investors seem to be staying calm or taking profits from the recent rally.

Bitcoin dropped from $28 to near $500 in a week. However, the price recovered somewhat over the weekend and is now trading around $25.

Ethereum saw similar downtrends, starting just below $1, falling to just above $875 ​​on Friday before recovering over the weekend, then landing around $1 this morning.

Record number of bitcoin owners

The number of holders of whole bitcoins has reached a record high according to data from in Glassno. Whole coin ownership – as measured by the number of wallet addresses holding at least one bitcoin token – has steadily increased over the past 14 years. But while it remained relatively flat during the pandemic years, it skyrocketed last year to reach over a million addresses for the first time according to data.

The trend shows a sharp increase in holdings at a time when the price of the cryptocurrency was falling. Token ownership has never been more diffuse and this is a really positive signal for the market and the ecosystem around it.

While the long-term outlook for bitcoin is hard to predict. The problems of the economy, which have become clear in recent weeks, and the ubiquitous problems in the banking sector, may lead the cryptocurrency on the path of development in the coming years.

Ethereum: problems with finalizing the transaction

The Ethereum network has undergone repairs after a series of issues prevented users from completing transactions on May 11 and 12. Users were prevented from completing transactions for 25 minutes on May 11 and more than an hour on May 12. Some validators experienced heavy traffic which caused a standstill, but this was quickly fixed by web developers. They are still investigating the cause of the outage.

For ethereum investors, the main question here is: could this be a problem for them? If you're holding on to a token with no intention of using or selling it, then it's not a big cause for concern. However, the delay in closing the deal could have affected anyone looking to sell or buy as the price levels moved in a short amount of time.

PEPE withdraws, the Bitcoin network weakens

Major bottlenecks affecting the bitcoin network appear to be easing in the wake of the PEPE meme coin hype. The price of the cryptocurrency has retreated, leaving more space on the bitcoin network for normal transactions.

This episode presents coin meme more like straw in the pan, especially with stories of speculators caught holding large amounts of token and unable to move. PEPE jumped at the beginning of the month but is now down more than 60%. from its all-time highs, reflecting a highly speculative short-term boom that has been much rarer in the cryptocurrency market lately.

The lesson from this situation is that engaging in short-term speculative hypotheses is rarely a good idea. Instead, investing in the long-term use cases and utility of cryptocurrencies is a much more sensible approach. Investors should always be prepared for volatility, especially in the frontier investment class such as cryptocurrencies.