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Ethereum is prominent among retail traders due to its high profitability for short-term HODLers. Grayscale is well-known for HODLing ETH, which is housed in their AUM. Grayscale’s ETH holdings have largely remained stable, hovering about the 3.2 million mark, according to Grayscale reports. The market has no discernible association with overall holdings, which is not the case with retail traders.
As a result, it is the altcoin of choice for retail traders. Retail traders will benefit from HODLing and investing in Bitcoin, ETH in the same way as institutions have. The statement is supported for a number of fundamental and scientific explanations. Since ETH dwarfs all other blockchains in terms of fees charged, and evidence reveals huge demand for ETH across exchanges. This market may or may not be institutionalised, but it does exist.
The ETH network settles $30.5 billion in value every day, even more than Bitcoin does. Despite the fact that DeFi and NFTs account for a substantial portion of ETH trades, the altcoin is widely used.
At the ATH price stage, Ethereum currently has 625k regular active accounts, and this number is growing every day. Retail traders anticipate that the altcoin will enter exploration mode.
With $65 billion in ETH tied up in top DeFi ventures, ETH is institutional grade, but it also offers profit booking opportunities to retail traders. The ETH network has over 500k regular unique senders, which is only one indication of the growing number of unique and active users. Furthermore, Bitcoin is gradually being portrayed on ETH in the form of WBTC, making it a huge draw for crypto currencies, Bitcoin, DeFi, and NFTs.