Glassnode: Long-term holders of ETH are still waiting for a better selling position

ChainCatcher news, according to Cointelegraph, Glassnode released a market analysis report indicating that long-term holders of ETH seem unwilling to sell in large quantities at the current price. Despite many having ample profit margins, they are still waiting for a better selling position.

In analyzing the market capitalization to realized value (MVRV) ratio of Ethereum, Glassnode stated that short-term holders of ETH (with an average total cost of $3000 within 155 days) may panic if a new market downturn occurs.