According to PANews, an analysis by Murphy on the X platform discusses the impact of ancient ETH tokens, acquired at costs below $400, on the market. The analysis highlights that ETF and DAT companies have absorbed 12.05 million ETH in this cycle, suggesting that without their intervention, ETH prices might have been more adversely affected. Tokens held for over five years, with costs under $400, remain highly active, especially when prices approach or exceed $4,000. Currently, these tokens account for 20 million ETH, or 17% of the total circulation. Similarly, BTC tokens acquired at costs below $1,000 account for 3.79 million, or 18.9% of total circulation. However, unlike ETH, 1 million of these BTC tokens belong to Satoshi Nakamoto, and most of the remainder are lost, resulting in lower activity compared to ETH due to stronger community consensus.
The analysis suggests that with the existing ETF and DAT configurations, introducing new narratives and innovations could potentially consume half of the remaining 20 million ancient ETH tokens, leading to a significant price increase for ETH.
