More than 77% of ETH not locked in smart contracts hasn’t been moved in six months
More than three-quarters of the ETH in so-called externally owned accounts hasn't moved in six months, despite wild price swings during that period, according to on-chain market analysis firm Glassnode.
Glassnode data shows that investors in ETH are exhibiting strong “HODLing” behaviors, a reference to the term that bitcoin enthusiasts use to describe the act staying invested whether the market goes up, down, or sideways. And while 77.7% of the outstanding supply hasn't moved in half a year, 57.6% hasn't changed hands in a year, and 31.6% has remained unmoved for a full two years.
Bitcoin holders are showing similar patterns. Currently, 42.8% of bitcoin's supply remains unmoved for at least two years, which marks a 10.4% increase from last year.
[caption id="attachment_63640" align="alignnone" width="2734"]
Data Source: Glassnode[/caption]
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
