Long-term Ethereum (ETH) holders are showing robust confidence in the cryptocurrency’s potential for sustained price growth, distinguishing them from short-term investors. BeInCrypto observed this trend through on-chain data analysis of market sentiment.
This optimism may be fueled by ETH’s recent resurgence, pushing its price above $2,600. However, the critical question remains: can Ethereum’s value continue to climb?
Ethereum LTH-NUPL Indicates Rising Confidence
In August, Ethereum’s Long-Term Holders Net Unrealized Profit/Loss (LTH-NUPL) entered the “belief zone” (green). This metric gauges the sentiment of investors holding ETH for at least 155 days, reflecting their unrealized profits or losses.
This zone signals that long-term holders are confident, seeing a rise in unrealized gains. After ETH dipped below $2,400 in early October, the sentiment turned bearish.
Since ETH regained momentum above $2,600, the LTH-NUPL metric has moved into the “optimistic” (yellow) zone. This shift suggests that holders are seeing solid unrealized gains, potentially lifting market sentiment and encouraging further accumulation.
For more information, check out: How to Buy Ethereum (ETH) and Everything You Need to Know.
