The number of addresses with 1,000 or more ETH has dropped to a five-year low.
ETH recently found support around the $1610 area after facing severe selling pressure.
Vitalik Buterin, co-founder of Ethereum, recently put forth ways to address issues of decentralization. He proposes a two-tiered staking mechanism with node operators and delegators as separate participant types.
Buterin argued that the network and its users would benefit greatly from this approach and listed many potential advantages. From the vantage point of the network, it may be possible to reap a number of benefits.
First, scalability may be considerably improved and computational overhead dropped by lowering the number of signatures per block to about 10,000. Increased difficulties for attackers seeking to hold a majority share would also improve network security and decentralization.
Bearish Pressure
According to statistics compiled by Glassnode, the number of addresses with 1,000 or more ETH has dropped to a five-
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