Ethereum Accumulation Address Holdings Surge By 60% In Five Months

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	390,922,201,189	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

390,922,201,189

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-78.57	-2.36%	3,257.66	3,257.65	3,257.66

Price Change

Price Change %

Current Price

Bid Price

Offer

-78.57

-2.36%

3,257.66

3,257.65

3,257.66

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,400.23	3,217.84	3,323.24	3,336.23	2,080.02 - 4,109.67

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,400.23

3,217.84

3,323.24

3,336.23

2,080.02 - 4,109.67

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:28:45	0.000931	3,259.91	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

20:28:45

0.000931

3,259.91

USD

Price x Volume	Volume	Base Symbol	Related Pairs
219,116,377.23	65,908.55	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

219,116,377.23

65,908.55

Ethereum Accumulation Address Holdings Surge By 60% In Five Months – Details

22/12/2024 1:30pm

NEWSBTC

Amid a general crypto market price fall in the past week, Ethereum (ETH) recorded a price correction of over 19.5% finding support at a local bottom of $3,100. Since then, the prominent altcoin has only shown slight resilience rising by over 5% in the past two days. However, recent data on wallet activity provides much cause to be bullish on Ethereum’s long-term future. Related Reading: Ethereum Rejected At $4,000 Resistance Again: What Lies Ahead For ETH? Ethereum HODL Addresses Increase Supply Dominance To 16% In a recent QuickTake post, CryptoQuant analyst MAC_D shared some positive insights on the Ethereum market. The crypto market expert reports that the balance of Ethereum Accumulation Addresses has surged by a remarkable 60% from August to December. During this time, these HODL wallets have boosted their portion of ETH supply from 10% to 16% i.e. 19.4 million ETH of 120 million ETH. To explain, the Accumulation Addresses are wallets that hold Ethereum but rarely move or sell their holdings. They are considered a measure of long-term investment and confidence. According to MAC_D, the rapid increase in these Ethereum HODL wallets’ holdings is a new development absent from previous bull cycles. The analyst attributed this massive accumulation rate to investors’ bullish expectations of the incoming Donald Trump administration in the US. These expectations include more favorable regulations on the DeFi industry which represents a major sector of the Ethereum ecosystem. Therefore, regardless of Ethereum’s current price movement, these long-holding wallets are likely to keep increasing their holdings in anticipation of future price growth. In addition, MAC_D emphasizes the importance of these Accumulation Addresses in that the price of Ethereum has never slipped below their realized price. Therefore, a continuous purchase by these wallets provides a high potential for a long-term price gain. Related Reading: Ethereum Investment: Trump Crypto Project Grabs 722 ETH At $2.5 Million What’s Next For ETH? In regards to Ethereum’s immediate movement, MAC_D warns that macroeconomic factors are likely to exert a stronger influence on ETH’s price in the short-term as illustrated by the recent price crash induced by potential reduced interest rate cuts in 2025. At the time of writing, the altcoin trades at $3,352 following a 3.07% decline in the past 24 hours. In tandem, ETH’s daily trading volume is down by 53.25% and valued at $31.15 billion. Following recent price falls, Ethereum also presents a negative performance on larger charts with losses of 14.74% and 1.05% in the past seven and thirty days, respectively. On a positive note, the asset’s price remains far above its initial price point ($2,397) at the start of the post-US elections price rally, indicating that long-term sentiment remains positive. With a market cap of $401 billion, Ethereum continues to rank as the second-largest cryptocurrency and largest altcoin in the digital asset market. Featured image from INX, chart from Tradingview

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