[Analysis] "Ethereum Accumulation Addresses Surge... Likely to Rise Further"

Ethereum Accumulation Address Holdings / Photo=CryptoQuant

Ethereum (ETH) accumulation address holdings have surged, raising expectations for further increases in Ethereum's price.

On the 21st, 'MAC.D', a contributor to the on-chain data analysis platform CryptoQuant, stated, "Since August, the holdings of Ethereum accumulation addresses have risen sharply. This accounts for approximately 16% (19.4 million) of Ethereum's total supply (120 million)," he said.

He explained, "This upward trend has not been seen in previous cycles. It is interpreted as the effect of resolving DeFi regulatory risks due to the election of Donald Trump as President of the United States," adding, "Investors may aggressively accumulate regardless of the price in the future."

Ethereum Accumulation Address Realized Price / Photo=CryptoQuant

He continued, "Historically, Ethereum's price has never fallen below the realized price (average cost) of Ethereum accumulation addresses. Currently, their realized price is $2,150," adding, "Ethereum's price is likely to rise in the long term."

Meanwhile, as of 9:20 AM (KST) today, Ethereum is trading at around $3,450 on the Binance Tether (USDT) market, up approximately 2% from the previous day.