Ethereum Accumulation Signals Strong ETH Price Rally Above $4000
Ethereum enthusiasts are celebrating today as the cryptocurrency’s price surges by 5%, edging closer to the $4,000 milestone. This impressive rally is fueled by substantial Ethereum accumulation and positive market sentiment, signalling a potential upward trajectory for ETH.
Besides, the strong accumulation of the second-largest crypto has also sparked discussions over a further rally in Ethereum price in the coming days.
Massive Ethereum Accumulation Boosts Market Confidence
Recent data from the blockchain tracking platform, Spot On Chain, reveals a surge in Ethereum accumulation, providing a strong foundation for the cryptocurrency’s price rally. Over the past few days, wallets associated with Pulse Chain and Pulse X have purchased a staggering amount of ETH, totalling 163,295 ETH worth approximately 620.7 million DAI.
Notably, the blockchain tracking platform, Spot On Chain, reveals significant on-chain ETH purchases linked to Pulse Chain/X wallets. In the latest update, 15,003 ETH were acquired using 59 million DAI today, totalling 163,295 ETH over four days. This marks an average price of $3,801 and an estimated unrealized profit of $24.3M
