More than 60% of Ethereum in circulation has not moved for more than a year

The share of Ethereum (ETH) coins that have not moved for more than a year stood at 60.4% of the total circulating supply of the cryptocurrency. This is according to data from analytics firm Glassnode.

EthHub founder Anthony Sassano wondered how this ratio would change with the advent of staking, which is planned in Ethereum 2.0 with the transition to the Proof-of-Stake consensus mechanism.

~60% of all ETH hasn’t moved in 1+ years.

With eth2 phase 0 approaching, it’ll be interesting to see how much this percentage comes down by as Ethereum OG’s move their stash into staking.

I’m particularly curious to see if any of the coins in the 5+ years category move 👀 pic.twitter.com/9H38dYAHDq

— Anthony Sassano | sassal.eth ⛽ 🏴 (@sassal0x) October 14, 2020

Glassnode data point to a rise in the number of long-term Ethereum holders since the start of the bear market in 2018. Most of them did not capitulate during periods when the price fell below $100 in December 2018 and in March 2020. Around 28% of the coins last moved one to two years ago.

Sassano is most interested in how ETH2 staking will affect holders of coins that have not moved for more than five years.

On 12 October, developers launched the final testnet Zinken ahead of the transition to Phase 0 of ETH2. It served as the dress rehearsal for the creation of the Ethereum 2.0 genesis block. The network will run in parallel with the active Medalla testnet.

Earlier in September, Ethereum developer Evan Van Ness said that the countdown to the launch of Ethereum 2.0 was ‘weeks away’.

A few days later, cybersecurity expert Chase Wright expressed doubts about the wisdom of participating in staking after the launch of Phase 0 of Ethereum 2.0.

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