My crypto people, stay alert! Ethereum (ETH), that cryptocurrency that has many of us dancing, is making a master move that could change the game. It turns out that the number of "accumulation addresses" of ETH shot up to a historic record of 529,310! 🤯 That's more than half a million wallets that have at least 100 ETH tucked away. It's as if big investors are building their treasure for the future! 💎
What does this "accumulation addresses" mean? 👀
To understand the trend, these accumulation addresses are like the most serious and long-term investors. They are individuals or institutions that are buying and holding their ETH as if it were daily bread, but without selling them. Not a single coin leaves there! This tells us that they see ETH as a treasure for the future, something like a "reserve asset."
For an address to be considered an accumulation address, it must meet several requirements, and they are not trivial! For example, it cannot have made any sales in its history, every time it receives money it must be more than 100 ETH, it has to have received funds at least twice, and have a minimum balance of 100 ETH. Additionally, it should not be linked to centralized exchanges, miners, or smart contracts. Those wallets are clean and focused on the long term! 💪
Is the explosion of the ETH price coming? 🚀
Since the end of June, it had already been said that the accumulation of ETH was at a thousand, and that could be a sign that the price was going to skyrocket. And it seems they weren't so wrong!
This constant accumulation trend by the big players in the market, combined with a pattern that experts call a "golden cross" (where two price averages cross in a particular way), could be the perfect recipe for a monumental rise! The last time we saw this "golden cross," the price of ETH shot up! 📈
According to experts, if this trend continues, the price of ETH could approach $2,800, which is an important resistance level. Imagine the party if it gets there! 🎉
The data that confirms it: 22.7 million ETH in the treasury! 📊
To give you an idea of the magnitude of this accumulation, in June, Ethereum's accumulation addresses closed with a historic record of 22.7 million ETH. That's an increase of 35.9% compared to the beginning of the month! This gigantic amount of ETH that is being saved and not sold clearly tells us that big investors are betting heavily that the value of ETH will rise.
So, while the price of ETH has been more or less calm lately, this massive accumulation of the cryptocurrency and the technical signals make us think that we are about to see a significant bullish movement. Keep your eyes wide open, because Ethereum could give us a big surprise in the short term! 😉$ETH
