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Glassnode: Whale Holding Over 10k ETH Accelerates Accumulation, Recent Volatility Forms Accumulation Zone Around $2500
BlockBeats News, July 9th, according to Glassnode data, whales holding at least 10,000 ETH are accelerating their accumulation, at a pace even faster than before the 95% surge in ETH in mid-2022.
As of this Monday, the total amount of ETH held by these whales has rebounded from a historic low of 37.56 million in October 2024 to 41.06 million, an increase of 9.31%. This growth rate is nearly twice as fast as during May to September 2022 (when the ETH price rose from around $1,000 to $1,950).
A similar situation occurred from November 2020 to January 2021, when whale holdings increased by 4%, and the ETH price surged from $460 to $1,220. History shows that whales often start accumulating before a full market takeoff.
Glassnode data indicates that the $2,500-2,536 range is the strongest accumulation area recently, with over 3.45 million ETH concentrated at this cost basis, forming a key support level.
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