June 2025 has been a month full of records for ETH. Although prices have not reached expected levels due to the constant manipulation by Market Makers, the on-chain data is astonishing.
Accumulation addresses, which follow strict criteria such as not belonging to CEXs and maintaining a history with little to no ETH outflows, broke a historic record in June, reaching 22.7465M ETH held as of June 30. This is clearly reflected in the ETH Cohort Study (see chart), where we started on June 1 at 16.7281M, representing an increase of 35.97%.
In addition, these addresses also set a record for purchases in a single month, accumulating an impressive 6.0184M ETH throughout June (rising from 16.7281M on June 1 to 22.7465M by the end of June 30).
The Realized Price of these accumulation addresses, that is, their average acquisition cost, stands at $2,114.70 as of July 1. With ETH trading at $2,565, this gives them a current profit of 21.29% as of July 2.
Another record achieved by ETH in June was in Liquid Staking. Since June 1, staking activity has grown significantly: it went from 34.546084M ETH to 35.526482M ETH by June 30. This represents an increase of nearly one million ETH in just one month, setting a monthly staking record in Ethereum, with a growth of 2.83%.
Furthermore, as of July 1, ETH once again set a new all-time high in Liquid Staking, reaching 35.56435271M ETH. This can be explained by the fact that most accumulation addresses belong to institutional investors, ETFs, and large holders, some of whom choose to earn yield through Liquid Staking while waiting for substantial price appreciation. Lido and Binance ETH Staking are the DeFi protocols that have most benefited from this trend, thanks to their large scale and attractive investor features.
In summary, while ETH’s price hasn’t yet exploded, institutional investors continue accumulating and locking tokens at record levels, indicating that the market may be gearing up for a significant upward move in ETH.
Written by Carmelo_Alemán
