Have you ever wondered why ETH (Ethereum) has been so sluggish lately, as if it's being rubbed against the floor? Don't be discouraged just yet, today we are going to unveil a reason that might surprise you - ETH is undergoing a historic 'changing of the guard'!
Imagine the big financial institutions on Wall Street, those financial giants who usually look down on others, are now quietly becoming the new big players of ETH, slowly taking over chips from the previous 'wild players'. It's like a silent relay race, and you and I might just be spectators at the sidelines, watching this grand play slowly unfold.
Data doesn't lie. Over the past year, the market share of the top 100 holding addresses has been on the rise, now reaching as high as 66%! Especially after the ETH ETF was approved for listing, this percentage has significantly increased. What does this indicate? The concentration of ETH is getting higher, with the leading addresses continuously buying, yet the price crawls like a snail.
Why is that? On one hand, it shows that the big players are still here, constantly accumulating; on the other hand, the market is bustling, with retail investors offloading chips and leading addresses exchanging hands among themselves, this is what is known as 'changing hands'.
Did you know? ETH and BTC are the only two tokens with ETFs! Moreover, ETH has a super big advantage - staking rewards. Imagine, once the ETF starts staking rewards, even restaking, at least 3% annual risk-free returns in coin terms, this is simply a windfall! Compared to traditional financial products, this is simply a windfall!
This is the potential of ETH that hasn't been discovered by everyone yet, and it's the greatest potential good news. The financial giants on Wall Street will certainly not let this big cake slip away; they are drooling and itching to become the new big players of ETH.
However, ETH has gone through two cycles of bull and bear markets, with many long-term holders and more dispersed chips. Therefore, this process of chip exchange will take some time, it needs to be washed thoroughly. This is why the ETH price has been suppressed, causing long-term holders to offload their chips, like switching to trade popular ones like SOL. Only in this way can the chips gradually concentrate in the hands of new big players.
Only when the new big players have accumulated enough will they have the motivation to drive up the ETH price. It's like a carefully orchestrated scheme, and we, as the audience, just need to patiently wait for the climax of this grand drama.
So, friends, don't easily discard the truly valuable chips in your hands - BTC and ETH. Only after we get through this long and painful washing phase can we welcome true long-term gains. Remember, this is a prolonged battle that tests patience and wisdom!
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The above content is for informational purposes only and does not constitute any investment advice! Investment carries risks, enter the market with caution!
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