Ethereum accumulation addresses recently skyrocketed to an all-time-high just as early investors started profiting. Over the course of the month of June, accumulation addresses gained 6 million ETH. This increased the total holdings in these addresses to an all-time high of 22.75 million ETH.
With the price spiking as a backdrop in the background, early investors are beginning to cash out on their investments. One large wallet transferred over 4,000 ETH to an exchange, signaling a potential shift in investment strategy among early adopters.
SharpLink Gaming recorded an impressive one-time purchase of more than 200,000 ETH—with a value of about $524 million. This sizable investment further underscores the growing institutional interest in Ethereum.
In the last week Ethereum has climbed 3.79%, showing strong bullish market movement. Viable or not, the intent to send strong buying activity was most conspicuous among artists during July 2 July 4. Even with a short retracement from above $2,600 Ethereum has held strong.
On the technical front, Ethereum’s architecture is still below a clearly established trading band of $2,190 and $2,750. The price is currently in a consolidation phase and we notice that this is the creation of a descending broadening wedge.
According to the derivatives market, traders are taking a bullish stance on Ethereum. Options volume is up 34.49%, while open interest in the derivatives market is at $34.19 billion. All of these figures point to increasing optimism among market participants.
Nguyen Thi Hanh
Cryptocurrency Writer
Nguyen Thi Hanh channels progressive, pragmatic views into high-energy, approachable crypto journalism, delivering confident, animated articles with regional and global relevance. Her optimistic, party-going spirit helps translate complex blockchain ideas into viral, visually engaging stories. Outside of writing, she enjoys urban food adventures and organizing community hackathons.
