Although Ethereum (ETH) investors have started to realize profits, it seems that the trend has begun to reverse with the increase in new investors entering the market.
According to the Cost Basis Distribution Heatmap data shared by Glassnode, Ethereum investors, especially those who purchased Ethereum at around $2,520, have strategically begun to realize profits since the beginning of July. However, it is emphasized that investors who bought ETH at this level still hold approximately 2 million ETH, and sales have remained limited. This situation indicates that while Ethereum investors are realizing their current profits, they maintain expectations for price increases in the medium term.
Additionally, another share from Glassnode presents a more positive picture for Ethereum. Since the beginning of July, there has been a noticeable increase of about 16% in the amount of supply held by investors who are purchasing Ethereum for the first time. This situation indicates that new participants are entering the market and the fresh demand for Ethereum is absorbing the realized profit sales.
The expectation for an increase in Ethereum's price is supported not only by the expectations of existing investors but also by the increasing interest of new investors who are buying Ethereum for the first time. The demand from new investors for Ethereum could strengthen the supply-demand balance in the market and create upward pressure on the price.
According to experts, if the current trend continues, there is a high likelihood of stronger upward movements in the price of Ethereum. The continued appeal of Ethereum for new investors reinforces market confidence.
