October 15, 2020 at 12:13PM
More than half of Ethereum’s circulating supply has not moved in more than a year, with only 39.6% of Ether (ETH) changing hands over the past 12 months. According to Glassnode’s ‘hodlwaves,’ which offers a chronological breakdown of the velocity of on-chain transactions, roughly 28% of Ether last moved between the past 12 and 24 months — comprising the largest segment of on-chain activity.
The data suggests that many whales spent 2019 accumulating Ether in advance of the project’s ETH 2.0 overhaul — for which phase 0 is expected to commence in the coming months, allowing users to stake their Ether for the first time. Around 20% of tokens have not moved since before October 2017, with analysts watching to see if a percentage of these coins are moved into staking with the roll-out of phase 0.
Phase 0’s coming launch appears to have sparked a recent increase in the short-term velocity of on-chain transfers, with the share of Ether moved in the past 24 hours increasing from less than 0.5% during January and February to average more than 1% in early September. Weekly velocity also increased from 1.5% at the start of the year to tag 5% in both July and September, while monthly and quarterly transfers similarly increased steadily since June.
More than half of all Ethereum hasn’t moved in 12 months, CoinTelegraph, Oct 15
From: The FxPro News Team https://fxpro.news/daily-forex-outlook/more-than-half-of-all-ethereum-hasnt-moved-in-12-months-20201015/
Selected by fonecable.com
- Crude Oil Over Crypto
- US Dollar Price Action Setups pre-CPI: EUR/USD, GBP/USD, USD/JPY
- Cathie Wood & Ark: Insiders Aren’t Buying the Hype
- Breaking News: ECB Holds Rates, Setting up July and September for Fireworks
- Currency Carry Trade: What is it and how does it work?