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Glassnode data shows that long-term eth holders are still holding their positions, while whales are avoiding accumulating too much.
The amount of eth supply last active between 7 and 10 years ago hit an all-time high of over 5.3 million eth. This indicates that these long-term holders are not selling their positions.
Additionally, the number of addresses containing more than 1000 eth coins abandonment to a five-year low of just over 6,000. This suggests that whale interest in the ethereum protocol is likely currently lower than for most of the last five years.
The number of addresses containing more than 10,000 eth fell to a two-year low of just over 1,000. This further cements the idea that whales lost much interest in accumulating large amounts of eth.
Overall, the data shows that while long-term holders are holding their ethereum close after seeing significant gains compared to the price they reached. On the other hand, whales and heavyweight investors have lost much of their interest in this specific protocol for the time being.
