Yugocean
Valued Contributor
According to one statistic, almost half of all Ethereum in circulation is held in wallets that have been HODLing the cryptocurrency for over a year.
There are several reasons to believe that those wallets were made by long-term investors who have kept Ethetreum HODL for the entire year.
WHALES
The HODLers are thought to be whales who sell when the price is high then dump the value by sending it to an exchange, resulting in increased liquidity, before the price drops in the market, and they start buying it again till their next dumping session.
GAS FEES
It's also possible that due to high cost of gas fees. This is a fact that Ethereum"s gas price costs enougj, making it out of the reach of common people.
EFFECTIVE USE
Many people continue to use Ethereum despite the gas fee due to wide profitable market of DApps and NFTs; this makes them to HODL till there are chances of other platforms.
There are several reasons to believe that those wallets were made by long-term investors who have kept Ethetreum HODL for the entire year.
WHALES
The HODLers are thought to be whales who sell when the price is high then dump the value by sending it to an exchange, resulting in increased liquidity, before the price drops in the market, and they start buying it again till their next dumping session.
GAS FEES
It's also possible that due to high cost of gas fees. This is a fact that Ethereum"s gas price costs enougj, making it out of the reach of common people.
EFFECTIVE USE
Many people continue to use Ethereum despite the gas fee due to wide profitable market of DApps and NFTs; this makes them to HODL till there are chances of other platforms.
