In a year now, only 39% of Ethereum has been moved from hands to hand, rendering over half of it dormant.
A report by Glassnode's proved that within 12 and 24 months of the past month's, Ethereum movement has only covered 28% of transactions, setting a record for the biggest on-chain trading. However, with the introduction of phase 0, 20% of tokens dormant since 2017 will be watched closely if they'll be moved.
Credit: Glassnode Studio
Major Updates:
- About 28% of Ethereum hasn't been moved in the last 12 to 24 months.
- The announcement of the Ethereum phase 0 launch sparked the movement of Ethereum.
- The volume of ETH moved in the past 24 hours has increased from 0.5% to 1%.
- Monthly transfers have also increased consistently for in the last four months.
- Weekly velocity is as risen to 5% from 1.5% of January.
- Experts will be on the lookout to see if users will move their Ethereum supply.
Since the mid-march black Thursday, Bitcoin on-chain fell from a range of 6% down to nearly 4% in supply during February and September. Will phase 0 of Ethereum 2.0 break the long term dormancy of Ethereum? Share your thought in the comment section.
Source: Cointelegraph.
