Foresight News reports that the Ethereum cost basis distribution heat map released by blockchain data analysis firm Glassnode shows that since July 1 of this year, buyers have shown significant profit-taking around $2520, with the red area gradually weakening. However, these buyers still hold nearly 2 million ETH.
Glassnode believes this indicates: 1) Investors are strategically taking profits, 2) The market generally expects the price of Ethereum to rise further, 3) New buying demand is absorbing market supply.
