"Ethereum Long-term Investors Make Large Purchases Over Two Days... Largest in Seven Years"
Summary
- It was reported that long-term investors in Ethereum (ETH) have recently made large additional purchases.
- According to Onchain School, more than 640,000 Ethereum have been purchased in the past 48 hours.
- Ethereum's fundamentals are evolving, and the conviction of long-term holders is strengthening.
It has been revealed that long-term investors in Ethereum (ETH) have recently made large additional purchases of Ethereum.
An Onchain School CryptoQuant contributor stated on the 24th, "Funds are rapidly flowing into wallets with no history of selling (Ethereum)," and noted that this is a trend to watch on the Ethereum on-chain. Onchain School reported, "Over the past 48 hours, more than 640,000 Ethereum have flowed into these wallets," and added, "This is the largest scale since 2018."
Onchain School emphasized, "Despite the decline in (Ethereum) prices, the conviction of long-term holders seems to have strengthened." They continued, "Ethereum's fundamentals are rapidly evolving, and the price is under pressure," and suggested, "It could be that 'silent hands' are sending signals not yet reflected in the market."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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