The number of Ethereum addresses with balances over $1 million has fluctuated significantly over the past six months

Over the past six months, the number of Ethereum addresses with a balance of more than $1 million has fluctuated significantly. From mid-January to mid-March, the number of such addresses has increased significantly, reaching a maximum of more than 19,500. This period coincided with a sharp increase in the price of Ethereum, and the number of addresses also showed an upward trend. However, by the beginning of April, the number of such addresses and the price had dropped significantly.
After a brief rally in late April, the number of high-value Ethereum addresses fell again and hit lows around mid-May. The trend has since reversed sharply, while the price of Ethereum has risen again. This pattern highlights the potential correlation between the number of high-value holders and market price movements, suggesting that large investors may be reacting to or driving price changes.