On June 20th, Glassnode data shows that the number of long-term holders of Ethereum has reached a new high. The Ethereum HODL Waves chart shows a clear concentration of Ethereum held for 1 to 3 years, indicating that a large amount of Ethereum acquired during 2021-2022 is still held. The 1-2 and 2-3 year ranges reflect these holdings and account for a large proportion of the total supply. In addition, the share of Ethereum held for more than 7 years has increased, representing long-term holders who have experienced multiple market cycles.