According to on-chain data monitoring, over the past month since July 10, more than 1.035 million ETH (valued at approximately $4.167 billion) have been accumulated by multiple unknown whales or institutions through exchanges and institutional platforms.
During the same period, the price of ETH rose from $2600 to over $4000, with a cumulative increase of 45%. It is worth noting that the average cost of these accumulated ETH is about $3546, most of which likely comes from institutions and US stock companies that are laying out ETH reserves.
In light of the current market trends, this type of large-scale accumulation behavior not only reflects institutions' recognition of ETH's value but may also lay the groundwork for subsequent price movements. The future market trends are worth continuous attention 🔥🔥🔥
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