ETH in the long term will break upwards 📈🚀
Ethereum closed June with historical records in accumulation and staking, while the price of its native cryptocurrency, ether (ETH), remained without major movements. During the sixth month of the year, around 22.7 million of $ETH were held in what CryptoQuant qualifies as "accumulation wallets," boosting a bullish expectation for the price of that cryptocurrency.
The growth in accumulation was notable. On June 1, these addresses held 16.7 million ETH. But by the end of the month, the figure grew by 6 million coins, representing an increase of 35.9% in just 30 days.
Accumulation addresses meet strict criteria: they do not belong to centralized exchanges, do not show significant outflows of $ETH , and are often associated with institutional players or long-term holders.
Carmelo Alemán, an analyst at the firm CryptoQuant, pointed out that the data is a "clear signal of strategic accumulation" by major market players, such as exchange-traded funds (#ETHETFsApproved ), financial institutions, and whales. He says that ETH has entered "flight mode" and could be ready for takeoff.
Alemán explained that the average acquisition price for these addresses, known as the realized price, was USD 2,114.70 as of July 1. With ether trading at USD 2,565 on July 2, these entities recorded an unrealized gain of 21.29%
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