Analyst: Most ETH holders are not satisfied with making profits at the current price, and new buyers can continue to actively buy to withstand selling pressure

According to BlockBeats, on July 27th, on chain data analyst Murphy posted on social media that the activity of "new buyers" of ETH has been very positive since July 20th, indicating a strong demand for ETH from new funds. Long term holders (radical buyers) also maintain a certain degree of increase in holdings during ETH price sideways. At the same time, there are not many profitable sellers, indicating that most floating profit holders are not satisfied with the current price of ETH, demonstrating strong holding confidence. From the on chain activity data of ETH, the number of transactions has approached the historical high of May 2021, and the transfer amount (in US dollars) has also rapidly increased. As the price of ETH remains below December 24 (around $4000), but on chain transfer amounts have surpassed the same period. The number of transactions represents on chain activity, while an increase in transfer amounts indicates that more and more large funds are actively participating. Murphy stated that although it can be seen from the Ethereum 2.0 staking data that there are currently nearly 700000 staked ETH waiting in line to exit, it means that the chip switching process of ETH from the old OG to the new institution in this cycle is about to accelerate. But I believe that as long as the demand side with "new buyers" as the main force can maintain sustained enthusiasm, even if these chips generate excess supply for a while, the market can fully bear it.