Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum HODLing:
Data Reveals
Diamond Hands
Own 78%
Of Supply
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum HODLing: Data Reveals Diamond Hands Own 78% Of Supply
by Keshav Verma
2 mins ago
in Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum
0
On-chain data shows the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum long-term holders have recently been
increasing their total share of the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта s supply.
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum HODLers Currently Carry The Majority Of ETH Supply
According to data shared by the market intelligence platform IntoTheBlock in a
post on X, the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum long-term holder supply has been on the rise recently.
The long-term holders (LTHs), as defined by IntoTheBlock,
refer to the ETH investors who bought their ETH more than a year ago.
Related Reading: Toncoin (TON) Whales Just Went On $342 Million Buying Spree,
Data Shows
Statistically, the longer an investor holds onto their coins, the less likely
they become to sell at any point. As such, these LTHs, who tend to hold for
long periods, include the investors least probable to sell in the market.
One way to keep track of the behavior of these HODLers is through the total
amount of supply held by them. The below chart shows the trend in this supply
for Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum since the start of the year 2024.
Looks like the value of the metric has been going up over the last few months
| Source: IntoTheBlock on X
As is visible in the above graph, the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum LTH supply has been riding an
uptrend this year so far. This increase has continued in the last few weeks,
with the metric even noticing a jump sharper than usual.
Something to note, though, is that when this indicator goes up, it
doesn t signify that these HODLers are buying in the present. Rather, it
implies that some accumulation occurred a year ago and these coins have now
matured enough to become a part of the cohort.
Nonetheless, an increase in the indicator is still naturally a bullish sign
for the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, as it suggests that HODLing behavior is growing among
the investors.
Following the latest rise, the Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum LTHs hold around 78% of the entire
circulating supply of the asset. This means that a majority of the supply is
currently locked in the hands of these holders who don t easily sell.
While ETH has been seeing this bullish development in terms of its LTHs, the
same hasn t been true for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin . As the analytics firm has pointed
out in another X post , the BTC HODLers have been shedding their supply
throughout the year.
The value of the metric appears to have been going down recently | Source:
IntoTheBlock on X
Whereas buying has a one year delay, selling doesn t have the same quirk
attached to it. This is due to the fact that coins have their age reset to
zero as soon as they are transferred on the blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн, so they are instantly
removed from the group.
Related Reading: Change Of Narrative: Users Paid Almost Same Fees On Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin
As On Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum In Q2 2024
In May, the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin LTHs sold around 160,000 BTC, worth a whopping $10.1
billion at the current exchange rate. Their selling did slow down last month,
though, as they distributed about 40,000 BTC ($2.5 billion).
ETH Price
At the time of writing, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum is floating around $3,500, up more than 5%
over the last seven days.
The price of the asset seems to have been on the rise over the last day or so
| Source: ETHUSD on TradingView
Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com