Ethereum Long-Term Holders Accumulate 30 Million ETH, Setting Stage for Potential Price Surge

Ethereum's long-term holders have accumulated nearly 30 million ETH in wallets that have never spent any coins, marking an all-time high. This accumulation occurs while Ethereum trades below its peak, suggesting optimism for a future rally.

Key Points

The influx of ETH into cold wallets has increased sharply, indicating higher confidence among long-term investors.
Historically, such accumulation precedes price surges.
Daily transactions on Ethereum exceeded 1,500,000, the highest since early 2023, indicating growing user engagement and demand.
ETH currently trades near $2,460 but faces resistance at key moving averages (50-day and 200-day).
Price must surpass $2,600 to signal bullish momentum towards $3,000.
Traders are monitoring volume spikes and movements above these technical barriers.

On-chain activity suggests significant interest, but caution remains among large buyers due to current price resistance levels.