Analyst: Most ETH holders are not satisfied with the current price to make a profit, new buyers can take over the selling pressure by actively buying

Mars Finance News, on July 27, chain data analyst Murphy posted on social media that the activity of ETH "new buyers" has been very active since July 20, indicating strong demand for new funds in ETH. Long-term holders (aggressive buyers) have continued to accumulate to some extent during ETH's price consolidation. Meanwhile, profit-taking sellers are few, suggesting that most profitable holders are not satisfied with ETH's current price, showing strong confidence in holding the token. From ETH's on-chain activity data, the number of transactions is approaching the historical high of May 2021, and the transfer amount (in USD value) is rapidly increasing. While ETH's price remains below December 24 (around $4,000), the on-chain transfer amount has already exceeded the same period. Transaction count represents on-chain activity, and the rise in transfer amount indicates that more large funds are actively participating. Murphy stated that although nearly 700,000 ETH are currently waiting in the Ethereum 2.0 staking queue to exit, signaling an acceleration in token switching from old OGs to new institutions in this cycle, he believes that as long as the demand side represented by "new buyers" maintains sustained enthusiasm, the market can fully absorb even if these tokens temporarily create excess supply.