ETH Chip Distribution Data Update

ETH is accumulating in the $2,530-$2,640 range, indicating that funds are willing to accumulate chips at this level. For example, on May 22nd, funds increased their holdings at $2,538, increasing the number of chips at that location from 900,000 to 1.53 million.

At the same time, whales who built positions around $3,600 in December 2024 have been adding to their positions as the price has fallen, and their average cost is now around $2,574, holding a total of 1.94 million coins; these should all be strong ETH holders.

More favorably, the low-cost chips accumulated below around $1,500, $1,600, and $1,800 have not shown significant reductions, which should provide positive momentum for ETH to build up and break through again. If BTC can maintain a high consolidation, will it be ETH's turn to "start your show?"

However, for ETH, the biggest resistance level is still around $2,700-$2,800, where a total of 3.9 million ETH are in a floating loss state before they are about to break even. When the price approaches, it will test the consensus of these chips; due to the large number of chips, it seems not easy to break through easily.

‼️ My sharing is for learning and communication only and does not constitute investment advice ‼️