{"id":30381,"date":"2024-12-22T13:30:43","date_gmt":"2024-12-22T13:30:43","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30381"},"modified":"2024-12-22T13:30:43","modified_gmt":"2024-12-22T13:30:43","slug":"ethereum-accumulation-address-holdings-surge-by-60-in-five-months-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30381","title":{"rendered":"Ethereum Accumulation Address Holdings Surge By 60% In Five Months \u2013 Details"},"content":{"rendered":"

Amid a general crypto market price fall<\/a> in the past week, Ethereum (ETH) recorded a price correction of over 19.5% finding support at a local bottom of $3,100.\u00a0 Since then, the prominent altcoin has only shown slight resilience rising by over 5% in the past two days. However, recent data on wallet activity provides much cause to be bullish on Ethereum\u2019s long-term future.\n<\/p>\n

Ethereum HODL Addresses Increase Supply Dominance To 16%<\/strong><\/h2>\n

In a recent QuickTake post<\/a>, CryptoQuant analyst MAC_D shared some positive insights on the Ethereum market.\u00a0<\/p>\n

The crypto market expert reports that the balance of Ethereum Accumulation Addresses has surged by a remarkable 60% from August to December. During this time, these HODL wallets have boosted their portion of ETH supply from 10% to 16% i.e. 19.4 million ETH of 120 million ETH.\u00a0<\/p>\n

To explain, the Accumulation Addresses are wallets that hold Ethereum but rarely move or sell their holdings. They are considered a measure of long-term investment and confidence.\u00a0<\/p>\n

According to MAC_D, the rapid increase in these Ethereum HODL wallets\u2019 holdings is a new development absent from previous bull cycles. The analyst attributed this massive accumulation rate to investors\u2019 bullish expectations of the incoming Donald Trump administration in the US.<\/p>\n

These expectations include more favorable regulations on the DeFi industry<\/a> which represents a major sector of the Ethereum ecosystem. Therefore, regardless of Ethereum\u2019s current price movement, these long-holding wallets are likely to keep increasing their holdings in anticipation of future price growth.\u00a0<\/p>\n

In addition, MAC_D emphasizes the importance of these Accumulation Addresses in that the price of Ethereum has never slipped below their realized price. Therefore, a continuous purchase by these wallets provides a high potential for a long-term price gain.<\/p>\n

What\u2019s Next For ETH?<\/strong><\/h2>\n

In regards to Ethereum\u2019s immediate movement, MAC_D warns that macroeconomic factors are likely to exert a stronger influence on ETH\u2019s price in the short-term as illustrated by the recent price crash induced by potential reduced interest rate cuts in 2025.<\/p>\n

At the time of writing, the altcoin trades at $3,352 following a 3.07% decline in the past 24 hours. In tandem, ETH\u2019s daily trading volume is down by 53.25% and valued at $31.15 billion.\u00a0<\/p>\n

Following recent price falls, Ethereum also presents a negative performance on larger charts with losses of 14.74% and 1.05% in the past seven and thirty days, respectively.\u00a0 On a positive note, the asset\u2019s price remains far above its initial price point ($2,397) at the start of the post-US elections price rally, indicating that long-term sentiment remains positive.<\/p>\n

With a market cap of $401 billion, Ethereum continues to rank as the second-largest cryptocurrency and largest altcoin in the digital asset market.<\/p>","protected":false},"excerpt":{"rendered":"

Amid a general crypto market price fall in the past week, Ethereum (ETH) recorded a price correction of over 19.5% finding support at a local bottom of $3,100.\u00a0 Since then, the prominent altcoin has only shown slight resilience rising by over 5% in the past two days. However, recent data on wallet activity provides much […]<\/p>\n","protected":false},"author":0,"featured_media":30382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30381"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30381"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30382"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}