IntoTheBlock released a report pointing out that the data shows that long-term holders of Bitcoin have been selling since January, but long-term holders of Ethereum are still accumulating. Currently 27.5% of the total supply of Ethereum market capitalization is in the state of staking, of which 16.3% of the staked ETH is re-staked through protocols such as Eigenlayer. This highlights the strong demand for native earnings among ETH holders. In addition, long-term holders may be waiting for Ethereum ETF approval and record highs before deciding to sell.
IntoTheBlock says that as market prices rise, long-term holders begin to sell assets they have accumulated over time. Historical data shows that this profit-taking usually begins in the early stages of a bull market and continues beyond the cycle peak, so monitoring this activity can help to more accurately estimate market peaks.
IntoTheBlock: Bitcoin long-term holders have been selling since January, but Ethereum long-term holders are still accumulating
2024-06-23 07:53:48
Intotheblock release report pointed out data display bitcoin long-term holdingdesk3cryptocurrencydesktopCrypto News
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