Ethereum Investors appear to be retreating as they double down on major altcoins, even as prices struggle to generate significant upside once again. Renewed buying pressure from major investors is evidenced by the recent surge in the number of coins acquired by accumulation wallet addresses.
Background of Ethereum price slump
Ethereum’s price may be showing signs of weakness on the surface, but beneath the market noise are the following issues: noticeable change In terms of investor psychology. Currently, ETH investors are rapidly increasing in the unstable crypto environment.
CW is a crypto analyst and data analyst. reported There has been an increase in purchasing activity as seen by the rise in ETH balances in the cumulative address indicator. This has historically been associated with long-term holding behavior. Investor activity is moving against price movements, indicating growing confidence among patient players. Moreover, this divergence indicates that strategic accumulation is in a maturing stage, even as broader sentiment indicates sustained caution.
Since the altcoin’s price reached a price mark of around $2,800, CW highlights that the number of ETH held by accumulation addresses has increased sharply, increasing by 5.2 million ETH. The chart shows that the cumulative coins held by investors have increased to over 27 million ETH.
Following the decline in ethereum pricepurchasing activity from large investors and whale owners accelerated, with total holdings reaching 26.78 million ETH. This increase in whale accumulation suggests that this group is showing renewed confidence in the altcoin’s long-term movement.
CW stated that this buying activity is a positive signal for the Ethereum market. This movement is currently being observed across the broader crypto market as large-scale accumulations are taking place. other coinsBitcoin, etc. As a result, experts believe the market is still in a bullish phase.
Large holders double their ETH
There is a clear move towards Ethereum, with large holders accumulating major altcoins, reports market expert Milkroad. milk road decided This action is performed within the cohort by looking at the ETH balance per holder value.
Milkroad’s research is primarily focused on wallet addresses holding between 10,000 ETH and 100,000 ETH. The metric data shows that accumulation Members of the group have gone parabolic in recent days. This shift suggests that even though short-term price movements are suppressed, strategic players may be positioning themselves in advance of larger market movements.
After years of steady decline, these wallets are rising quickly again and are now back near all-time highs, experts noted. Simply put, the biggest ethereum whale They have returned to the market and are actively increasing their holdings. If this accumulation continues, it could form the basis for the next significant trend in ETH.
Featured image from Getty Images, chart from Tradingview.com
editing process for is focused on providing thoroughly researched, accurate, and unbiased content. We adhere to strict sourcing standards, and each page is carefully reviewed by our team of top technology experts and experienced editors. This process ensures the integrity, relevance, and value of your content to your readers.