Listen, there's an interesting topic on Ethereum — it's like he's up to something.
In recent weeks, the number of new Ethereum addresses has increased significantly - from 800,000 to 1 million wallets are being created per week, whereas last year at the same time there were only 560-670,000. And this is despite the fact that the price of ETH does not move much and costs about $2,500. That is, the price is stable, and the interest in the network is growing. This is usually a good sign, because an increase in user activity indicates a deepening adoption of Ethereum, especially its real benefits.
But what's really interesting is that the "whales" have started to return. The volume of net inflows from large ETH holders increased by 7,400% in just one week. Before that, they were mostly selling or just watching. Now, it seems, they have begun to accumulate strategically. And if this trend continues, there may be a shortage of supply, which will push the price up.
Meanwhile, the price of ETH remains in the range of $2396–$2833, moving in an ascending channel. Bulls and bears seem to be playing a tug of war: some cannot break through the resistance, while others try to lower the price below the support. This often precedes an explosive movement in one direction or another.
As for speculators, they have become less active. Short-term holders, judging by the metric of the Realized Cap HODL Waves, began to exit the market. But the Stock-to-Flow indicator for ETH has grown to 43.2, which means that the issue is falling, and the deficit is growing. That is, ETH is becoming "rarer", which means it is potentially more expensive.
And here a logical question arises:
is Ethereum preparing for a break above $2,800?
What do you think?
