“Unlocking the Potential: Ethereum’s Long-Term Holders Embrace Bags, as Data Points to Promising Future!”
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, indicating that these long-term holders are not selling out of their positions.
In contrast, 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 currently lower than it has been for most of the last five years. Furthermore, the number of addresses holding 10,000+ ETH fell to a two-year low of just over 1,000, further solidifying the idea that whales have lost significant interest in accumulating large quantities of ETH.
Overall, the data reveals that while long-term holders are holding onto their Ethereum after seeing significant gains, whales and heavy-weight investors have lost much of their interest in this specific protocol for the time being.
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