BlockBeats News, January 1st, on-chain data analyst Murphy published an analysis of ancient whales holding ETH with a cost basis below $400 during this cycle. Currently, ETH held for 5 to 7 years has an average cost basis of $378. Throughout 2024 to 2025, whenever ETH price breaks through the $4000 mark, a large amount of ancient chips will realize profits and cash out. For example, in March 24, chips held for over 5 years realized $600 million in profit in a single day, and in June, there was a massive profit escape of up to $1 billion. In September 25, chips held for over 7 years, and in October, chips held for over 10 years, all cashed out over $500 million in a single day. After profit-taking by ancient chips, ETH invariably peaks temporarily. Since May 24, when ETH treasury companies began large-scale purchases, the supply of ETH held for over 5 years has gradually decreased, but ancient whales with a cost basis below $400 still hold a stock of 19.1 million ETH.
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