New report suggests Ethereum holders, DeFi helping ETH from crashing below $1.7K

[Tnoy30]

Total value locked across decentralized finance-enabled smart contracts has dipped 35% from its peak.
The drop in the price of Ether (ETH) is failing to shake out the long-term holders while the decentralized finance (DeFi) sector is also providing opportunities for investors.

So suggests a new Glassnode report that noted many long-term Ethereum holders (>155 days) sitting atop profits despite ETH/USD's 55% decline from its peak level above $4,300. In comparison, the short-term Ethereum holders (<155 days) watched their gains evaporate, and are now sitting underwater.
Source: New report suggests Ethereum holders, DeFi helping ETH from crashing below $1.7K