Ethereum holders are parting with their coins at a rate approximately three times faster than Bitcoin investors, according to Glassnode's analytics. This has impacted both asset flows and network metrics, reshaping the cryptocurrency landscape.
The report by Glassnode, in collaboration with Keyrock, highlights changing coin distribution patterns. Ethereum's long-term holders have increased coin distribution, contrasting the relative dormancy of Bitcoin holdings.
Ethereum Selling Rate Triples That of Bitcoin
Ethereum holders are parting with their coins at a rate approximately three times faster than Bitcoin investors, according to Glassnode's analytics. This has impacted both asset flows and network metrics, reshaping the cryptocurrency landscape.
The report by Glassnode, in collaboration with Keyrock, highlights changing coin distribution patterns. Ethereum's long-term holders have increased coin distribution, contrasting the relative dormancy of Bitcoin holdings.
Ethereum Sell-Off Reaches $140 Million Daily
Ethereum's daily sell-off reached approximately 45,000 ETH, equivalent to around $140 million at current prices. Bitcoin's supply remains largely dormant, which underlines its store-of-value profile.
This trend has aspirations for institutional crypto wrappers, with ETFs holding 5.2% of Ethereum supply. The market may face shifting liquidity dynamics as major cryptocurrencies experience varying demand and engagement levels.
ETH Distribution Matches February 2021 Levels
The current ETH distribution mimics the high velocity seen in February 2021. At that time, aged coins were released amidst heightened DeFi market activity and new staking applications.
Insights from Glassnode emphasize confidence in Bitcoin's savings asset role, as its dormancy rate competes with active Ethereum movements. This reflects a diversification in utility, from savings to active DeFi engagement.