Glassnode: Ethereum buyers took profits around $2,520, but still hold nearly 2 million ETH

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According to Foresight News, the Ethereum cost basis distribution heatmap released by blockchain data analysis institution glassnode shows that since July 1st this year, buyers have been clearly taking profits around $2,520, with the red area gradually weakening. However, these buyers still hold nearly 2 million ETH.

glassnode believes this indicates: 1) Investors are strategically taking profits, 2) The market generally expects ETH prices to rise further, 3) New buying demand is absorbing market supply.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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