As a seasoned crypto investor with a keen interest in monitoring on-chain data, I find the recent surge in Ethereum accumulation addresses to be an encouraging sign. The rise in the number of wallets holding Ethereum, particularly those in the 10 – 10k and 10k to 100k ETH categories, indicates a shift in market sentiment towards bullishness.
As a crypto investor, I’ve noticed Ethereum experiencing a notable surge in bullish indicators recently. One such encouraging sign is the significant increase in accumulation addresses. These are wallets where Ether has been withdrawn or transferred out, which is an essential metric for gauging market sentiment. Cold and hot wallets make up these accumulation addresses.
Accumulation Wallets Points Bullish
Recent findings from on-chain analysis firm CryptoQuant indicate a notable increase in the number of Ethereum holders. Specifically, there are now over 3,700 wallets holding Ethereum, marking a significant rise. This trend is further underscored by an uptick in the number of addresses containing between 10 and 10,000 ETH and 10,000 to 100,000 ETH. These wallet groups suggest growing optimism among Ethereum investors.
As a crypto investor, I’ve noticed some intriguing trends in Ethereum (ETH) wallet balances based on on-chain data. Specifically, addresses holding between 10 and 10,000 ETH contained approximately 246,700 coins on May 26th, compared to around 22,500 ETH in this category on May 1st. Likewise, wallets with balances between 10,000 and 100,000 ETH held approximately 373,700 coins on May 26th, compared to around 29,900 ETH in this group on May 1st. The surge in these numbers can be attributed to industry and macro factors that have significantly impacted the Ethereum ecosystem over the past few weeks.
As a crypto investor, I’ve noticed that Ethereum whales have been quite active in the market lately. In fact, transactions worth over $100,000 have reached an all-time high this year, according to IntoTheBlock data. This accumulation by larger holders is even more significant given the increased participation of traditional finance investors.
As a researcher studying the cryptocurrency market, I’ve observed an impressive surge in Ethereum’s trading volumes recently. This trend is a clear indication that bullish investors are making their moves, potentially setting off a price run in the market. The momentum created by this Ethereum rally could influence other altcoins as well.
Spot Ethereum ETFs Boost Accumulation
As a crypto investor, I’ve witnessed firsthand the significant impact of the approval of spot Bitcoin ETFs on January 11th. This milestone event triggered a surge in investor demand, pushing the price of Bitcoin to an all-time high above $73,000. Inspired by this widespread success, my attention has now shifted towards spot Ethereum ETFs. The week leading up to potential approvals was marked by massive accumulation, with the Ethereum price soaring above $3,700.
Currently, Ethereum is being traded at $3,942 per unit, marking a 2% gain over the past day and a significant 25% surge over the last week. Additionally, a notable Ethereum investor moved 42,192 ETH to an unidentified wallet today.
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2024-05-27 20:31