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Glassnode: Whales holding over 10,000 ETH are accelerating their accumulation, forming a strong accumulation zone in the $2,500 area.
According to Gate News bot, data from Glassnode shows that Whales holding at least 10,000 ETH are accelerating their accumulation, with the pace even surpassing the levels seen before the 95% rise of ETH in mid-2022.
As of this Monday, the total amount of ETH held by these Whales has rebounded from a historical low of 37.56 million in October 2024 to 41.06 million, an increase of 9.31%. This growth rate is nearly twice that of the period from May to September 2022 (when the price of ETH rose from about $1000 to $1950).
A similar situation occurred from November 2020 to January 2021, when Whale holdings increased by 4% and the ETH price soared from $460 to $1220. History shows that Whales often start accumulating before the market fully takes off.
Glassnode data shows that the range of 2500-2536 USD is the strongest accumulation area recently, with over 3.45 million ETH concentrated at this cost price, forming a key support level.
The concentration of such a large number of long-term holders around $2,500 reinforces the view that ETH's current consolidation phase is laying a solid foundation for the next pump.