A new report from CryptoQuant highlights a significant trend in Ethereum accumulation, indicating that a substantial portion of the cryptocurrency is held by long-term investors. According to the official information, this development comes amid ongoing market fluctuations, suggesting resilience among dedicated holders.
Accumulating Addresses Hold Significant ETH
According to the report, accumulating addresses currently possess around 27 million ETH, which accounts for approximately 23% of the total circulating supply. These addresses are specifically identified as long-term conviction holders, demonstrating a commitment to holding their assets without any recorded outflows over the past seven years.
Market Stability from Long-Term Holders
The data indicates that despite the recent volatility in the cryptocurrency market, a considerable amount of Ethereum remains securely held by these investors. This concentration of holdings in strong hands may provide a stabilizing effect on the market as these long-term holders are less likely to sell during downturns, potentially influencing future price movements.
Amid the ongoing trends in Ethereum accumulation, it's noteworthy that Kaspa has shown remarkable stability in the fluctuating cryptocurrency market. For more details, see the full article on Kaspa's performance here.
