Ethereum’s native token Ether (ETH) has dropped by over 18% after establishing an all-time high around $4,867 on Nov. 10, now trading near $3,900. Nonetheless, the plunge has not deterred retail investors from buying the token in small quantities.
According to data gathered by Glassnode — a blockchain analytics platform, the number of Ether addresses holding less than or equal to 0.01 ETH reached a record high level of 19.95 million on Dec. 4, the day ETH dropped to as low as $3,575 (data from Coinbase).
Meanwhile, the number of Ethereum wallets with balances of at least 0.1 ETH also kept climbing despite Ether’s correction from $4,867 to $3,575, eventually hitting a new all-time high of 6.37 million on Dec. 12.
As a result, the number of Ether addresses with a non-zero balance also reached a new record high of nearly 70 million on Dec. 12. In contrast, addresses holding less than or equal to 1 ETH dropped alongside prices, indicating that they were less interested in buying Ether’s sessional dips.
The army of retail investors buying Ether in small quantities marches ahead as the ETH price drops toward a support confluence.
Notably, Ether plunged Monday by over 5% to near $3,900 in a selloff inspired by similar corrections across the cryptocurrency space. Nonetheless, ETH price reached an area that has been lately attracting buyers.