Ethereum Long-Term Holders Hold 78% of Supply

New data reveals that long-term holders of Ethereum are now owning a larger portion of the cryptocurrency’s total supply.

Trend of Ethereum HODLers

Market intelligence platform IntoTheBlock shared statistics indicating a rise in long-term holders of Ethereum. These holders, who have owned their ETH for more than a year, are less likely to sell, contributing to the increase in their supply.

The chart below illustrates the growing trend of Ethereum long-term holder supply since the beginning of 2024:

While the indicator of long-term holders’ supply rising doesn’t necessarily mean current purchases, it does indicate a bullish sentiment among investors. Currently, 78% of Ethereum’s circulating supply is held by these long-term holders.

Contrary to Ethereum’s trend, Bitcoin long-term holders have been reducing their supply over the year:

In May, Bitcoin long-term holders sold a significant amount of BTC, but the selling decreased in the following month. Unlike buying, selling resets coin age to zero immediately upon transfer on the blockchain.

ETH Price Update

Currently, Ethereum is priced at around $3,500, marking a more than 5% increase over the past week.