ETH on-chain URPD shows roughly 13 million ETH clustered at $2,700–$2,800, over 10% of circulating supply
AI Market Summary
On-chain URPD data shows heavy ETH cost-basis concentration around $2,700-$2,800 (about 13M ETH, >10% of supply) with ~40% unrealized losses yet minimal movement, likely tied to a large entity (e.g., BitMine), plus prior high-volume trading and staking lockup. A record-high Herfindahl index implies rising supply concentration, reducing downside float but potentially creating overhead resistance if price revisits the cluster.
Impact level
● Medium
Affected assets
ETH/USDT+0.72%
AI Insight · ETH/USDTAI Insight
● Neutral
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
ETH on-chain URPD data show a heavy concentration of supply in the $2,700–$2,800 range, with three bars totaling about 13 million ETH—more than 10% of circulating supply. These holdings are sitting on roughly 40% unrealized losses but have seen little movement. Using Glassnode’s account-based approach, the main entity behind the cluster may be linked to BitMine after multiple accumulation rounds brought its weighted average cost into that band. The same cost zone could later act as resistance if ETH revisits it, even as the lock-up of supply reduces potential sell pressure on declines.
