More than 77% of ETH not locked in smart contracts hasn't been moved in six months

More than three-quarters of the ETH in so-called externally owned accounts hasn't moved in six months, despite wild price swings during that period, according to on-chain market analysis firm Glassnode.

Glassnode data shows that investors in ETH are exhibiting strong “HODLing” behaviors, a reference to the term that bitcoin enthusiasts use to describe the act staying invested whether the market goes up, down, or sideways. And while 77.7% of the outstanding supply hasn't moved in half a year, 57.6% hasn't changed hands in a year, and 31.6% has remained unmoved for a full two years.

Bitcoin holders are showing similar patterns. Currently, 42.8% of bitcoin's supply remains unmoved for at least two years, which marks a 10.4% increase from last year.

Data Source: Glassnode