According to @glassnode, since late August ETH pulled back from a new peak while 3-10 year holders increased their average daily spending to more than 45,000 ETH per day on a 90-day SMA basis, the highest level by seasoned investors since February 2021, source: Glassnode on X Nov 14, 2025, glassno.de/49TYFoV. For trading context, Glassnode defines this metric via Spent Output Age Bands where older coin spending reflects long-term holder distribution and increased supply returning on-chain, source: Glassnode Academy and Glassnode on X Nov 14, 2025, glassno.de/49TYFoV.