Ethereum Sees Record Accumulation and Staking in June
In June, Ethereum quietly achieved a significant milestone, despite its price staying relatively stable. According to CryptoQuant contributor Carmelo Alemán, the network experienced a surge in accumulation and staking activities. This indicates strong support from long-term investors and institutions.
Accumulation addresses, which are wallets with minimal outflows and no ties to centralized exchanges, held 22.75 million ETH by the month’s end.This marks a 35.97% increase from the start of the month, the largest monthly gain ever. These wallets, which typically belong to strategic holders, accumulated over 6 million ETH, showing growing confidence. These addresses now hold 22.75 million ETH by the end of June.
Ethereum’s liquid staking also hit a new high. The amount staked on platforms like Lido DAO and binance rose by nearly 1 million ETH in June. This suggests that many holders, likely institutions, are staking to earn while waiting for potential gains.
As of early July, accumulation addresses have an average cost basis of $2,114.70.With ETH trading above $2,500, these holders have a 21.29% unrealized gain, reducing immediate selling pressure. ETH is now at $2,596, up 6% in 24 hours, showing a strong recovery. Over the past week, it has traded between $2,393 and $2,600. According to Cryptorank, Ethereum gained 36% in Q2, recovering from a 45% Q1 drop. On the technical side, the price is above the 20-day exponential moving average, with Bollinger bands widening, indicating increasing volatility. The relative strength index is rising but not overbought, hinting at more upside potential.If it breaks above $2,600 with steady volume, the next target might be $2,750–$2,800. Key support levels are at $2,450 and $2,280.
