{"id":660415,"date":"2024-12-11T06:00:55","date_gmt":"2024-12-11T06:00:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=660415"},"modified":"2024-12-11T04:54:21","modified_gmt":"2024-12-11T04:54:21","slug":"ethereum-accumulation-addresses-hit-78b-whats-next-for-eths-price","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-accumulation-addresses-hit-78b-whats-next-for-eths-price\/","title":{"rendered":"Ethereum Accumulation Addresses Hit $78B: What\u2019s Next for ETH’s Price?"},"content":{"rendered":"

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, seems to be drawing attention as analysts observe market metrics that indicates the possible next move for ETH.<\/p>\n

Recent data from CryptoQuant has highlighted patterns in accumulation and exchange-traded fund (ETF) inflows, providing a detailed look at Ethereum\u2019s potential trajectory as it underperforms relative to Bitcoin<\/a> in the current cycle.<\/p>\n

Related Reading: Ethereum Price Faces Pressure: Bulls Tested After Setback<\/a><\/div>\n

Analyzing Trends in Accumulation and ETF Inflows<\/h2>\n

In a series of posts<\/a> shared on social media platform X, CryptoQuant analysts dissected Ethereum\u2019s key metrics. One of the standout observations was Ethereum\u2019s balance in accumulation addresses<\/a>. These addresses now hold approximately 19.5 million ETH, valued at around $78 billion.<\/p>\n

\"Ethereum
Ethereum balance on accumulation addresses. | Source: TradingView<\/figcaption><\/figure>\n

For comparison, Bitcoin accumulation addresses hold about 2.8 million BTC, worth $280 billion. While the dollar value of Bitcoin held is four times larger than Ethereum, this aligns with their relative market capitalizations, offering insights into investor behaviour<\/a>.<\/p>\n

Another critical metric spotlighted was the steady inflow into Ethereum-focused ETFs over the past months. Notable spikes were recorded on several key dates, including $1.1 billion on November 11 and $839 million on December 4, 2024.<\/p>\n

According to the CryptoQuant analysts, these consistent inflows are a strong indicator of institutional buying interest, reinforcing Ethereum\u2019s growing appeal among large-scale investors<\/a>.<\/p>\n

\n

The Ethereum ETF has seen steady inflows in recent months.<\/p>\n

Key spikes on:<\/p>\n

Nov 11, 2024: $1,100M
\nNov 21, 2024: $754M
\nNov 25, 2024: $629M
\nNov 27, 2024: $883M
\nDec 4, 2024: $839M<\/p>\n

These inflows reflect strong buying pressure. pic.twitter.com\/OIwWNmRPYB<\/a><\/p>\n

\u2014 CryptoQuant.com (@cryptoquant_com) December 10, 2024<\/a><\/p><\/blockquote>\n

Despite the strong ETF demand, Ethereum\u2019s price movements have been less dramatic compared to Bitcoin\u2019s performance in this cycle. Historically, Ethereum\u2019s price peaks have trailed Bitcoin\u2019s, as seen during the 2021 bull run.<\/p>\n

At that time, Bitcoin hit an all-time high (ATH) in March with a 480% gain, while Ethereum peaked few months after with roughly 1,114% increase. However, in the current cycle, Ethereum appears to be underperforming, signaling a shift in market dynamics.<\/p>\n

Taker Volume and Potential Growth<\/h2>\n

Furthermore, a significant area of concern the analysts mentioned is the Ethereum\u2019s taker volume, which reflects market sentiment by comparing aggressive buying and selling activity.<\/p>\n

\"Ethereum\u2019s
Ethereum\u2019s taker-seller volume. | Source: CryptoQuant<\/figcaption><\/figure>\n

CryptoQuant reported that Ethereum\u2019s taker-seller volume has hit a record low of -400 million. This aggressive selling activity is reminiscent of patterns observed before its ATH in 2021. While the current selling pressure may seem bearish, it could also signal a market nearing a critical pivot point<\/a>.<\/p>\n

\n

Ethereum Taker Volume is at its lowest level on record.<\/p>\n

Ethereum’s price weakness is due to high taker-seller volume, now at a record low of -400 million, indicating aggressive selling.<\/p>\n

A similar pattern occurred before Ethereum’s peak in May 2021. Despite this, there may still\u2026 pic.twitter.com\/OmRYvAzjxI<\/a><\/p>\n

\u2014 CryptoQuant.com (@cryptoquant_com) December 10, 2024<\/a><\/p><\/blockquote>\n

The analysts emphasized that Ethereum\u2019s underperformance in this cycle does not preclude the possibility of significant growth.<\/p>\n

Related Reading: Ethereum Price Breakout: Charting The Uncertain Part Of ETH To $18,000<\/a><\/div>\n

The interplay between accumulation patterns, ETF inflows, and taker volume suggests that Ethereum could still have room for upward momentum.<\/p>\n

\"Ethereum
ETH price is moving upwards on the 2-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, seems to be drawing attention as analysts observe market metrics that indicates the possible next move for ETH. Recent data from CryptoQuant has highlighted patterns in accumulation and exchange-traded fund (ETF) inflows, providing a detailed look at Ethereum\u2019s potential trajectory as it underperforms relative to Bitcoin in the current cycle. Related Reading: Ethereum Price Faces Pressure: Bulls Tested After Setback Analyzing Trends in Accumulation and ETF Inflows In a series of posts shared on social media platform X, CryptoQuant analysts dissected Ethereum\u2019s key metrics. One of the standout observations was Ethereum\u2019s balance in accumulation addresses. These addresses now hold approximately 19.5 million ETH, valued at around $78 billion. For comparison, Bitcoin accumulation addresses hold about 2.8 million BTC, worth $280 billion. While the dollar value of Bitcoin held is four times larger than Ethereum, this aligns with their relative market capitalizations, offering insights into investor behaviour. Another critical metric spotlighted was the steady inflow into Ethereum-focused ETFs over the past months. Notable spikes were recorded on several key dates, including $1.1 billion on November 11 and $839 million on December 4, 2024. According to the CryptoQuant analysts, these consistent inflows are a strong indicator of institutional buying interest, reinforcing Ethereum\u2019s growing appeal among large-scale investors. The Ethereum ETF has seen steady inflows in recent months. Key spikes on: Nov 11, 2024: $1,100M Nov 21, 2024: $754M Nov 25, 2024: $629M Nov 27, 2024: $883M Dec 4, 2024: $839M These inflows reflect strong buying pressure. pic.twitter.com\/OIwWNmRPYB \u2014 CryptoQuant.com (@cryptoquant_com) December 10, 2024 Despite the strong ETF demand, Ethereum\u2019s price movements have been less dramatic compared to Bitcoin\u2019s performance in this cycle. Historically, Ethereum\u2019s price peaks have trailed Bitcoin\u2019s, as seen during the 2021 bull run. At that time, Bitcoin hit an all-time high (ATH) in March with a 480% gain, while Ethereum peaked few months after with roughly 1,114% increase. However, in the current cycle, Ethereum appears to be underperforming, signaling a shift in market dynamics. Taker Volume and Potential Growth Furthermore, a significant area of concern the analysts mentioned is the Ethereum\u2019s taker volume, which reflects market sentiment by comparing aggressive buying and selling activity. CryptoQuant reported that Ethereum\u2019s taker-seller volume has hit a record low of -400 million. This aggressive selling activity is reminiscent of patterns observed before its ATH in 2021. While the current selling pressure may seem bearish, it could also signal a market nearing a critical pivot point. Ethereum Taker Volume is at its lowest level on record. Ethereum’s price weakness is due to high taker-seller volume, now at a record low of -400 million, indicating aggressive selling. A similar pattern occurred before Ethereum’s peak in May 2021. Despite this, there may still\u2026 pic.twitter.com\/OmRYvAzjxI \u2014 CryptoQuant.com (@cryptoquant_com) December 10, 2024 The analysts emphasized that Ethereum\u2019s underperformance in this cycle does not preclude the possibility of significant growth. Related Reading: Ethereum Price Breakout: Charting The Uncertain Part Of ETH To $18,000 The interplay between accumulation patterns, ETF inflows, and taker volume suggests that Ethereum could still have room for upward momentum. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":660444,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,6664,10923,1946,91844,78803],"class_list":["post-660415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-crypto-market","tag-ethereum","tag-ethereum-market","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Accumulation Addresses Hit $78B: What\u2019s Next for ETH's Price?<\/title>\n<meta name=\"description\" content=\"Ethereum (ETH), the second-largest cryptocurrency by market capitalization, seems to be drawing attention as analysts observe market...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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