Ethereum switched to “airplane mode”
"The on-chain data is surprising," says analyst Carmelo Alemán.
Ethereum closed June with historical records in accumulation and staking, while the price of its native cryptocurrency, ether (ETH), remained stable. During the sixth month of the year, around 22.7 million ETH were held in what CryptoQuant qualifies as “accumulation wallets,” driving 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 increased by 6 million coins, representing a 35.9% increase in just 30 days.
