Analyst: ETH ancient chips will not be locked for the long term, ETF and DAT companies will absorb 12.05 million tokens of selling pressure in this cycle.

Mars Finance reports that analyst Murphy posted on the X platform, stating: “ETF + DAT companies have absorbed a total of 12.05 million ETH sell-offs in this cycle. Without them, ETH’s price performance would have been even more bleak. Ancient holdings held for over 5 years and purchased below $400 still have high ‘activity’ levels. Especially when the price approaches or exceeds $4000. Currently, these holdings amount to 20 million ETH, accounting for 17% of the total circulating supply; similarly, holdings with a cost below $1000 amount to 3.79 million ETH, representing 18.9% of the total circulating supply. However, unlike ETH, 1 million of these are Satoshi’s coins, with most of the rest lost. Coupled with higher community consensus, the ‘activity’ of these ancient BTC holdings is significantly lower than ETH. Personally, based on the current ETF + DAT setup, if we can introduce some new narratives and innovations to further consume half of the remaining 20 million ancient holdings, ETH’s price could potentially see a qualitative leap.”