The latest Santiment results, published in a monthly Cointelegraph Consulting newsletter, show that regular users are returning to Ethereum in response to lower transaction fees.

Several Ethereum influencers, including miners and some of Ethereum’s largest non-exchange addresses, have shown signs of continued accumulation and increased confidence in the currency’s long-term potential.

After a period of redistribution and short-term sales of the Ethereum block creators during August, the total balance of Ethereum mining pools increased again by 50,000 ETH (approximately $ 18,200,000 at the time of writing). Report) for the last 30 days.

In the past, significant reductions in the collective ownership of Ethereum miners coincided with stronger pressure from sellers and lower prices, while periods of mining often contributed well to the price of Ethereum in the near future.

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A similar accumulation pattern was observed for the 100 largest non-exchanged Ethereum addresses, or the largest Ethereum whales. After September 5, the total balance of these 100 denominations alone increased by 2,050,000 ETH (approximately $ 749 million at the time of writing), indicating increased confidence among ETH investors despite unstable market movements over 30 days. Last.

Apart from miners and whales storing ETH, measurements related to Ethereum shares over the past month have pointed to a steady decline in sales pressure and a short-term shift in ETH holders.

Daily ETH deposits (addresses used to exchange ETH on the stock exchange) fell from 55027 on 1 September to a 3-month low of 23,821 on 28 September, representing a fall of -56.7% and indicating a reduction in the network’s sales pressure. Furthermore, the amount of ETH entering well-known stock exchanges decreased every day from 298,000 on 5 September to only 80,350 on 28 September.

Source: CoinTelegraph