While Bitcoin (BTC) odds statistics are often put forward when it comes to making short-term asset estimates, this is rarely the case with Ethereum (ETH). Glassnode who decided to look into the subject recently studied the dynamics of ETH transfers over the past 12 months. It appears that only 39.6% of the total amount of assets have changed owners. A statistic that should drop slightly as we approach the launch of phase 0 of ETH 2.0. Explanations.
Since 2019, the majority of holders prefer to accumulate assets
When we observe the evolution of the amount of ETH put into circulation, around 60% of the assets are kept in the portfolios of their holderss. The holdling trend is moreover more impressive going back to the year 2018. Indeed, only 28% of the ether has changed hands in the last 24 months according to data provided by Glassnode. These include a chronological breakdown of the speed of transactions on the blockchain. These figures therefore suggest that the main holders of the assets spent the year 2019 accumulating a significant amount of ETH. Some specialists attribute this strategy to a form of preparation before the advent of the ETH 2.0 project. The latter should indeed allow asset holders to stake their assets for the first time.
Phase 0 of ETH 2.0 would stimulate transfers
In the immediate term, it appears that the approach to the launch of Phase 0 of ETH 2.0 has caused an increase in the speed of transfers over the network. The observation of the average amount of ETH transferred at the end of a day is thus increased from 0.5% at the start of the year to more than 1% in September. On a weekly basis, the rate tripled over the same period, going from 1.5% at the start of the year to 5% in September. However, it was not until June that there was a significant increase in monthly and quarterly transfers.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
The coming months should therefore confirm or not this hypothesis once the launch of phase 0 is effective. While waiting to get there, the startup Solana has just proposed a solution to solve the congestion problem on the network.