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Data from Glassnode shows that long-term ETH holders are still holding onto their positions while whales shy away from accumulating too much.
The amount of ETH supply last active between 7-10 years ago <a href="https://twitter.com/glassnodealerts/status/1710252389943353541" target="_blank" rel="noopener noreferrer nofollow">hit</a> an all-time high of over 5.3 million ETH. This indicates these long-term holders are not selling out of their positions.
Additionally, the number of addresses holding 1,000+ ETH coins <a href="https://twitter.com/glassnodealerts/status/1710041038516040060" target="_blank" rel="noopener noreferrer nofollow">dropped</a> to a five-year low of just over 6,000. This suggests that whale interest in the Ethereum protocol is likely to be currently lower than what it has been for most of the last five years.
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The number of addresses holding 10,000+ ETH <a href="https://twitter.com/glassnodealerts/status/1709950449543958859" target="_blank" rel="noopener noreferrer nofollow">fell</a> to a two-year low of just over 1,000. This further cements the idea that whales lost a significant of interest in accumulating great quantities of ETH.
Overall, the data shows that while long-term holders are keeping their Ethereum close after seeing significant gains compared to the price that they got in at. Whales and heavy weight investors on the other hand lost much of their interest in this specific protocol for the time being.
Read more: <a href="https://crypto.news/bitcoin-and-ether-record-low-trading-volumes-on-south-koreas-biggest-crypto-exchange/" rel="noopener noreferrer nofollow"> Bitcoin and Ether record low trading volumes on South Korea’s biggest crypto exchange </a>

Ethereum long-term owners holding bags? Data says yes

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