After repeated discussions and detailed explanations of the differences and roles of CBD and URPD in terms of chip structure, support range, and time flow, Glassnode engineers have finally redeveloped and launched ETH's URPD data! From now on, you can now intuitively view ETH's chip price distribution and support range changes, just like analyzing BTC. A special thank you to the @Glassnode team for their hard work and outstanding research and development, providing us with such high-quality data and analysis tools!

Oh, I forgot to add: The last time STH-RP was touched, stablecoin growth wasn't as dramatic as it is now, but the overall BTC balance on Binance was declining, and the BTC price quickly rebounded. This time, while purchasing power has increased, potential selling pressure is also increasing, indicating a more intense capital game, potentially complicating the situation.

Sorry for the typo, correction: the intermediate support range is still $112,000-$108,000

The range of holdings corresponding to the statistical unit of ppm in this article is as follows

The supplement to Figure 5 above is here:

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The current selling pressure mainly comes from Coinbase. At around 10 o'clock this morning, 4,950 BTC were transferred to Coinbase, which means that this wave has pushed BTC to around $115,000; and just one hour ago, another 3,169 BTC were transferred in. Currently, the data of Glassnode is only updated here. If there is no new large transfer in the future, then $115,000 is about right; if there is more, it is estimated that it will continue to fall. This article is sponsored by #Bitget | @Bitget_zh