Analysts have noted that ETFs and DAT companies are currently facing significant selling pressure, absorbing 12.05 million ETH tokens in the current cycle. This intervention has prevented a more severe decline in ETH prices. Despite the pressure, ancient ETH tokens, acquired at costs below $400 and held for over five years, remain active, especially when prices approach $4,000. These tokens represent 17% of the total circulating supply, amounting to 20 million tokens.
In contrast, ancient BTC tokens, with a cost below $1,000, account for 18.9% of the total supply, but their activity is lower due to a significant portion being lost or held by Satoshi Nakamoto. Analysts suggest that introducing new narratives and innovations in ETF and DAT allocations could potentially drive a substantial increase in ETH prices by reducing the number of circulating ancient tokens.
Analysts Highlight Selling Pressure on ETH from ETFs and DAT Companies
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