Main to remember::
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The mega whales Ethereum increased their assets by 9.31%, a stronger accumulation than before the 2022 rally.
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ETH is consolidated inside a bull pennant, with an escape potentially targeting $ 3,400 by August.
Ethereum portfolios holding at least 10,000 ether (ETH) accumulate accumulation faster than before the 95% rally in mid-2022.
Ether whales have taken the most supplies since 2020
The total ETH held by these “mega whales” presented more than 41.06 million eth to July 7, going from 37.56 million ETH – a record level – in October 2024, according to Glassnode data.
This marks an increase of 9.31%, almost double the accumulation rate observed between May and September 2022, before the price of the ETH rallied from about $ 1,000 to more than $ 1,950, an increase of 95%.
A similar trend took place between November 2020 and January 2021, when Whale Holdings increased by 4% and ETH increased from $ 460 to $ 1,220.
The major holders began to accumulate long before the wider market was manifested in both cases. ETH price action has remained relatively stable in recent weeks, suggesting that the current accumulation phase still flies under the radar.
This silent accumulation could be a precursor of a significant increase movement which may not yet be assessed, if past models are reproduced.
The continuous increase in mega whales ether assets coincides more with the increase in flows in investment funds focused on Ethereum, including ETFs. Recovery of the offer is also the strongest and the most sustained since the start of the long -term decrease in the metric in June 2020.
Bull SULNING Target 30% ETH price gains
Ether is also negotiated in a model of Taureau flag of manuals on the daily graphic. The configuration generally indicates a movement of continuation, often resolved by a break in the direction of the anterior trend.
In relation: Bitmine collects $ 250 million to launch Ethereum Corporate Treasury
Interestingly, a failed break and a failed failure occurred in the structure, suggesting a strong consolidation.
A decisive movement above the upper limit of the pennant could push ETH to the level of $ 3,400 by August. Some indicators even see the price reaching $ 5,000 by the end of the year.
Ethereum cost distribution shows the range of $ 2,500 to $ 2,536 as one of the highest accumulation areas in recent months, according to Glassnod data.
More than 3.45 million ETH have their cost base in this range, emphasizing it as a key level of support.
Such a heavy concentration of long -term holders close to $ 2,500 reinforces the idea that Ether’s current consolidation phase forms a solid base for the next step.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
