Ethereum Liquid Staking Reaches 35.56 Million ETH, Accumulation Addresses Surge
Ethereum (ETH) Price Update
- ETH increased over 8% in 48 hours, rising from approximately $2,400 to nearly $2,600.
- On-chain analysis indicates both accumulation addresses and liquid staking volume are near all-time highs.
Liquid Staking Activity
- Liquid staking rose significantly since June 1, with staked ETH increasing from 34.54 million to 35.56 million by July 1.
- Most accumulation addresses are associated with institutional investors and large holders.
- ETH accumulation addresses grew 35.97%, from 16.72 million to 22.74 million between June 1 and June 30.
- Realized Price of these addresses was $2,114 on July 1; current price is $2,593, indicating a profit of approximately 22.65%.
Potential for Breakout
- Technical analysis suggests ETH may break out of a broadening wedge pattern with a target of $4,200.
- Institutional interest is rising, with plans from key figures to accumulate significant ETH positions.
- ETH must maintain support above $2,200 to avoid potential drop to $1,160.
