Ethereum’s 20M held in accumulation addresses since 2021 reflects long-term confidence despite extreme price swings.
Ethereum’s dominance rose from 7.15% to 11.50% in 2025, signaling capital rotation and growing market conviction in ETH.
Coiling across ETH price, dominance, and BTC ratio charts points to a breakout-ready structure awaiting confirmation.
Ethereum's on-chain data reveals firm structural strength as whale accumulation continues to anchor the market. With 20 million ETH held in accumulation addresses since 2021, investor conviction remains high while price action and dominance build toward a potential breakout.
Ethereum's On-Chain Strength Builds with Whale Holding Patterns
Ethereum's accumulation address balances have surged from zero in 2017 to 20 million by 2021, and have stayed there. This long-term holding behavior reflects growing investor confidence, as ETH’s price has climbed from $40 to $6,000 during that same window. The result is a tightening supply and rising pressure for a market expansion.
<embed> https://x.com/CW8900/status/1935195145101775066 <embed/>
According to Ethereum's data, the total amount of ETH in accumulation addresses increased steadily between July 2017 and June 2025. Five million have been reached by July 2018; ten million by 2019; and twenty million by 2021. Since then, the balance has stayed at $20 million despite Ethereum's price swinging between $200 and $6,000. The holding pattern is this. It indicates that even during rallies, big players are not selling.
At the same time, price behavior signals growing momentum. From $1,546 in early 2025, Ethereum has surged to $3,500. The structure remains bullish with higher highs and a clear ascending trendline on major exchanges. This market behavior—accumulation without distribution—often signals preparation for a much larger move. Could Ethereum break $4,000 soon, triggering a fresh macro leg upward?
Ethereum Dominance and ETH/BTC Chart Show Bullish Setup
Ethereum’s market cap dominance has jumped from 7.15% to 11.50% in 2025. This increase suggests capital rotation back into ETH and stronger overall sentiment. Meanwhile, the ETH/BTC ratio, though volatile, has climbed from 0.01725 to 0.03300, suggesting Ethereum is gradually gaining ground against Bitcoin.
Source: (X)
These synchronized chart behaviors point to compression across key Ethereum metrics. The upward trend in dominance, combined with ETH/BTC volatility and rising USD price, reveals a market that is coiling. Even so, traders are still looking for confirmation.
Questions emerge: Will a retest of lower support at $3,000 give way to new highs? Can ETH reclaim levels above $4,000 to trigger the next expansion? This setup echoes Bitcoin’s historical breakout behavior.
Analysts See Ethereum in Pre-Parabolic Phase
Additional views on X suggest Ethereum is now mirroring Bitcoin’s 2017–2021 path. Analysts expect a major move once $ETH clears $4,000. Until then, Ethereum is considered in an accumulation range, with buyers preparing at key demand zones. With 20 million ETH locked, a dominant market share, and coiling charts, Ethereum’s setup remains bullish.
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