Ethereum long-term owners holding bags? Data says yes
Data from Glassnode shows that long-term ETH holders are still holding onto their positions while whales shy away from accumulating too much. The amount of ETH supply last active between 7-10 years ago hit an all-time high of over 5.3 million ETH. This indicates these long-term holders are not selling out of their positions. Additionally, the number of addresses holding 1,000+ ETH coins dropped to a five-year low of just over 6,000. This suggests that whale interest in the Ethereum protocol is likely to be currently lower than what it has been for most of the last five years. You might also like: ETH options call block volumes exceed $250 million The number of addresses holding 10,000+ ETH fell to a two-year low of just over 1,000. This further cements the idea that whales lost a significant of interest in accumulating great quantities of ETH. Overall, the data shows that while long-term holders are keeping their Ethereum close after seeing significant gains compared...