July 2024 iEthereum Digital Commodity Index Report

Executive Summary

We are pleased to present our July 2024 iEthereum Digital Commodity Index Report, our third consecutive monthly update. This report showcases our ongoing commitment to enhancing the quality and value of our analysis for the iEthereum community. July has been marked by several key updates and improvements, which are detailed below.

Please enjoy the executive summary below. The complete report can be downloaded at the end.

Introduction

In line with our promise to continually improve the quality of our monthly reports, this issue provides a detailed overview of the iEthereum ecosystem’s performance and trends. This 11-page report, up from 8 last month covers various aspects, including pricing, holdings, volume and transactions, liquidity and markets, valuations, and sentiment.

Despite the generally subdued performance in July, we observed positive trends such as an increase in token holders and volume although total transfers were down. This growth is a positive indicator and aligns with our strategic aim to document and analyze data effectively. This approach will help us identify advantageous trends as they emerge.

iEthereum Pricing

In July, we expanded our pricing metrics to offer a more comprehensive view of iEthereum’s market position by including its value in Bitcoin (BTC) in addition to USD, Ethereum (ETH), Gold, and Hex. This month’s observations reveal a slight increase in the USD price of iEthereum, moving from $0.021 to $0.022. However, when measured in Bitcoin, iEthereum has seen a slight decrease in value, indicating a weaker performance relative to BTC. Conversely, its value in Ethereum has increased, suggesting a relative strengthening against ETH.

The price of iEthereum in terms of Gold has increased, reflecting a positive shift in its value compared to this precious metal. Moreover, iEthereum's value relative to Hex has experienced a significant surge, highlighting notable growth in this benchmark. Overall, the expansion of our pricing metrics to include BTC provides a more nuanced understanding of iEthereum's market dynamics.

Market Capitalization

Our analysis of iEthereum’s market capitalization across various perspectives shows diverse trends. The market cap in USD terms has notably increased, reflecting a rise in overall market value. Similarly, the market capitalization in ETH terms has also grown, indicating improved standing within the Ethereum ecosystem. Furthermore, the market cap in terms of Gold has increased by 25 ounces, suggesting an increase in relative value against Gold. In contrast, the market cap measured in Hex has surged significantly, underscoring a substantial rise in iEthereum's value relative to Hex. These varied trends illustrate iEthereum's shifting market position and provide a comprehensive overview of its performance across different benchmarks.

iEthereum Holdings

Analysis

No changes or additions were made to the Holdings section this month. The analysis continues to provide insights into investor behavior and distribution patterns, including median holdings, standard deviation, Gini Coefficient, Nakamoto Coefficient, and Theil Index. The average iEthereum holdings were down 7% while we saw an increase of 0.04% in holders over the course of July with an addition of 2 new wallets containing iEthereum this month. Not a huge increase but it was green and it is two more towards our goal of assisting to reach a community of 10,000 iEthereans.

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