More than half of all Ethereum hasn't moved in 12 months

More than half of all Ethereum hasn't moved in 12 months


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.

Ethereum hodlwaves: Glassnode

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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.

~60% of all ETH hasn’t moved in 1+ years.

With eth2 phase 0 approaching, it’ll be interesting to see

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