He also outlined goals like quantum resistance, higher transaction capacity and decentralized proof-of-stake security. On-chain data reveals shifting holder behavior. HODL Waves show the 1-week to 1-month cohort dropped from 7.44% to 3.92% between January 6 and January 9.
Meanwhile, the 1-day to 1-week cohort rose from 1.34% to 2.21%. This group often reacts quickly to short-term price moves. Accumulation trends also slowed. Hodler Net Position Change stayed positive, yet inflows fell from about 179,000 ETH to roughly 135,500 ETH over the same period.
These metrics suggest reduced long-term buying strength while short-term activity increased. Price continues to compress as market participants await direction.
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