Ethereum Long-Term Holders Increase ETH Supply Share
Recent data indicates that Ethereum long-term holder supply has been on the rise. Long-term holders, defined as those who have held their ETH for over a year, make up a significant portion of the market. These investors are less likely to sell, making them a crucial group to monitor.
Increasing Trend in Ethereum Long-Term Holder Supply
Since the beginning of 2024, the total supply held by Ethereum long-term holders has been steadily increasing. This trend has continued in recent weeks, with a noticeable uptick in the supply held by these investors.
– The increase in supply does not necessarily signify recent purchases; rather, it indicates accumulated holdings that have matured over time.
– Despite this nuance, an uptrend in long-term holder supply is a positive indicator for Ethereum, suggesting growing confidence and commitment among investors.
Ethereum Long-Term Holders Hold Majority of ETH Supply
Following the latest uptick, long-term holders now control around 78% of Ethereum’s circulating supply. This majority stake held by investors who prefer to hold onto their assets rather than sell signals a certain level of stability for the cryptocurrency.
– This level of ownership by long-term holders contrasts with Bitcoin, where holders have been offloading their supply throughout the year.
– Ethereum’s long-term holders demonstrate a commitment to the asset, which can be a bullish signal for the cryptocurrency’s future performance.
Bitcoin Long-Term Holder Supply Decline
In sharp contrast to Ethereum, Bitcoin long-term holders have been reducing their supply over the course of the year. This selling behavior is reflected in a decline in the percentage of total circulating supply held by long-term Bitcoin investors.
– Unlike buying, selling in Bitcoin does not have a delay, as coins are instantly removed from long-term holder status upon transfer.
– Recent data shows significant Bitcoin sales by long-term holders, with a notable decrease in supply over the past month.
Current Ethereum Price
As of the latest data, Ethereum is trading at around $3,500, reflecting an increase of more than 5% over the previous week. The price performance of Ethereum indicates positive sentiment and investor interest in the cryptocurrency.
[Insert Ethereum Price Chart here]Hot Take
On-chain data shows the Ethereum long-term holders have recently been increasing their total share of the cryptocurrency’s supply.
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