Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Casual on June 25, 2021, 06:49:23 AM
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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 Ether holders (>155 days) are sitting atop profits despite ETH/USD’s 55% decline from its peak level above $4,300. In comparison, the short-term Ether holders (
“After almost hitting 46% of the market cap in unrealized gain, short-term holders are now holding an aggregate paper loss of -25% of the market cap,” Glassnode wrote. “Conversely, long-term holders remain firmly in profit, holding paper gains equivalent to around 80% of the market cap.”
Those in losses have a higher probability of liquidating their ETH holdings, added Glassnode while citing its proprietary STH-NUPL (short-term holders’ net unrealized profits-losses) indicator, which fell below zero.more (https://cointelegraph.com/news/new-report-suggests-ethereum-holders-defi-helping-eth-from-crashing-below-1-7k)