On-chain
data
shows
the
Ethereum
long-term
holders
have
recently
been
increasing
their
total
share
of
the
cryptocurrency’s
supply.
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
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.
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
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
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,
as
it
suggests
that
HODLing
behavior
is
growing
among
the
investors.
Following
the
latest
rise,
the
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.
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,
so
they
are
instantly
removed
from
the
group.
In
May,
the
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
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
Go to Source
Author: Keshav Verma
