ETH sending addresses hit 8-month high amid $1,600 retest
Ethereum (ETH) currently faces mixed sentiments as it witnesses a bullish and bearish metrics surge, including an 8-month high number of sending addresses. Glassnode called attention to these metrics in a series of disclosures on X (formerly Twitter). The leading crypto data provider highlighted four critical metrics demonstrating investor sentiments in the Ethereum market as the asset retests $1,600. The first metric underscores a decline in addresses receiving Ethereum over the past seven days. This indicator recently hit a one-month low of 8,780. #Ethereum $ETH Number of Receiving Addresses (7d MA) just reached a 1- month low of 8,780.256 Previous 1- month low of 8,781.738 was observed on 29 August 2023 View metric:https://t.co/Vm6VJY2z37 pic.twitter.com/2XP74ZS9gq — glassnode alerts (@glassnodealerts) September 13, 2023 Moreover, data suggests a potential drop in interest or a decrease in network activity. It’s worth noting that this metric has been stead...