Investors continue to accumulate Ether (ETH), with buying gaining momentum over the past several months.
Major players are most active. They buy altcoin and refuse to sell it even when the ETH price falls. For 12 months, more than half of the supply of Ether has not moved anywhere, according to the Glassnode platform.
During the same period, approximately 39.6% of ETH coins participated in transfers. This trend indicates that positive sentiment dominated throughout 2019 and 2020.
Investors are hoping for a long-term rise in the value of the altcoin. The crypto community is now awaiting the launch of an updated version of Ethereum (ETH 2.0).
The researchers highlighted that around 20% of ETH tokens have not moved since October 2017. Holders of the cryptocurrency believe that after the release of the update, Ethereum will become more productive.
The speed of processing transactions will increase, while fees, on the contrary, will be minimized. It is at this moment that a massive influx of investors into Ether will begin, and its value will soar to a new maximum.
The largest altcoin is trading in the $ 375-380 region this week. The coin cannot reach $ 400 yet due to a lack of sufficient support. But we also do not see a fall since now the players are not interested in a pullback below $ 350.