More than half of Ethereum’s circulating supply has not moved in more than a year, with only 39.6% of Ether (ETH) changing hands over the past 12 months.
According to Glassnode’s “hodlwaves” chart, which offers a chronological breakdown of the velocity of on-chain transactions, roughly 28% of Ether last moved between the past 12 and 24 months — comprising the largest segment of on-chain activity.
The data suggests that many whales spent 2019 accumulating…
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