Ethereum Investors Opt for HODL Strategy as ETH Price Surpasses $3,000 Mark
Monday, 6 May 2024, 18:06
Ethereum Investors Move to HODL
Ethereum’s price trading at $3,177 is hovering above the $3,000 support floor, with ETH holders now exhibiting more bullishness than before. Signs of this resilience are visible in the supply shift and behavior change.
Key Points:
- Deposits observed on-chain have noted a drawdown of 27% in the past week, signaling reduced selling pressure.
- Active Deposits at an 8-month low point to decreased potential for immediate liquidation.
- HODL waves show a 2.3% increase in mid-term holders and a 2.2% outflow from short-term holders, indicating a shift towards HODLing.
This change in investor sentiment highlights growing conviction among participants.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.