Key Takeaways

Who’s driving Ethereum’s momentum?

Addresses holding 10K–100K ETH expanded holdings to 31 million, matching whale patterns seen before past bull runs.

What confirms growing confidence?

36.15M ETH staked and a positive Fund Market Premium near $3.9K signaled firm institutional sentiment.

Ethereum [ETH] recovered strongly after the recent market turmoil that drained capital from the crypto market. The altcoin, once down to $3,988, surged 7% in 24 hours to trade near $4,200.

An AMBCrypto analysis suggests that demand continues to build, with ETH’s latest rally reinforcing its path toward a potential new all-time high. Here’s how.

Accumulators take charge again

Data from Alphractal showed that addresses holding 10K–100K ETH have expanded their holdings since April, now near a record 31 million ETH.

Historically, similar accumulation phases preceded major bull runs in 2017 and 2021, when ETH hit $1,419 and $4,867, respectively.

This latest uptick highlights the same cohort’s growing influence as ETH extends its rally beyond the $4,000 mark.

On top of that, other market segments appear to be mirroring this bullish accumulation trend.

Staking strengthens ETH’s floor

The odds in favor of a strong ETH rally remain high. One key indicator supporting this outlook is the Total Value of Staked Ethereum.

Interestingly, the data showed that the total amount of Ethereum staked in the market reached 36.15 million in the past day, nearly matching the amount purchased by the accumulation group.

Staked ETH is crucial because it represents tokens removed from active circulation; a continued rise in staking g

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Author: Olayiwola Dolapo