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Pirate Nation
@piratenation89
Long-term Bitcoin holders started selling off in January, but long-term Ethereum holders are still accumulating. IntoTheBlock published a report stating that data shows that long-term Bitcoin holders began selling in January, but long-term Ethereum holders are still accumulating. Currently, 27.5% of the total market value of the Ethereum supply is collateralized, with 16.3% of the collateralized ETH being re-collateralized through protocols like Eigenlayer. This highlights the strong demand for natural yield from ETH holders. Additionally, long-term holders can wait for Ethereum ETF approval and all-time highs before deciding to sell. IntoTheBlock said that as market prices rise, long-term holders begin to sell the assets they have accumulated over time. Historical data shows that this profit-taking typically begins early in a bull market and continues beyond the peak of the cycle, so tracking this activity can help estimate market peaks more exactly.
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