Glassnode: Ethereum buyers are taking profits around $2,520, and new buying is absorbing market supply

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On July 22, glassnode released an Ethereum cost basis distribution heatmap, showing that Ethereum buyers have been taking profits around $2,520 since July 1, with the red area gradually weakening. These buyers still hold nearly 2 million ETH. glassnode analysts stated that investors are strategically taking profits, while the market generally expects ETH prices to further increase, and new buying demand is absorbing market supply.

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