Ethereum has just reached a large milestone – more than 35 million ETH are now locked up in setting. In the meantime, this sudden rise, with 500,000 ETH in just two weeks, is points out growing confidence in the network. At the same time, long -term Holders stack ETH without selling a single currency.
But what does this mean for the price of Ethereum?
More than 35 million ETH has now been set up
According to the data from on-chain analysis company Cryptoquant, in the first half of June alone, more than 500,000 ETH were added to the Ethereum expansion contract. This pushed the total amount set out to a record high of more than 35 million ETH.
This is a major problem, because setting up coins and removes them from the blood circulation. With less ETH available to act, the liquid supply drops and that can cause an upward price pressure, especially if demand increases.
Long -term holders do not sell
Another strong signal comes from accumulation addresses – these are portfolios that have never sold an ETH. According to Data on chainsThese addresses now contain a record of 22.8 million ETH.
This suggests that a large group of Ethereum holders are not only bullish – they are in the long term. They do not take a profit or respond to short -term market movements. They quietly build their stack and wait.
Ethereum Price hold stable
Ethereum -Price remains stable above a rising support line near $ 2,556, which shows that buyers are still active. If the price succeeds in breaking past $ 2,660, it could quickly climb to $ 2,720. A strong push above that level can even bring ETH to $ 2,800 in the short term.
But if Ethereum does not exceed $ 2,500, it can fall again. In that case, ETH support is around $ 2,460.