Ethereum Owners Hang On to Their Assets, Average Purchase Price Increases Sharply
Unfiltered, Unleashed Chat: Ethereum (ETH) holders remain steadfast, even in the face of plummeting prices 💣
The Unwavering faith of Ethereum believers: CryptoQuant's latest findings reveal an intriguing trend among ETH investors. Despite the decrease in ETH's price, these fanatical devotees refuse to sell, displaying their unwavering faith in Ethereum and its ecosystem 🤞
Ethereum's catastrophic descent
In a sensational Monday post on Medium, CryptoQuant shared some juicy tidbits about these die-hard supporters of ETH. Confirming their beliefs with actions, they've remained steadfast during the alarming price drop from $4,107 back in December 2024 📉
ETH Volume close to Zilch, but there's a crucial twist 🤖But the market took a wild turn on March 10, when the price of ETH dipped below $2,000. Accumulating addresses, largely consisting of Ethereum whales, began to stack up ETH without a hint of selling. Their balances often remain stable or even grow, regardless of whether they belong to big or small fish 🦈
Cost basis for accumulating addresses has taken a nose-dive, dipping from a gargantuan $2,026 to a mere $1,980 as of May 3. This represents a paltry 2.32% decrease since March 10. At the moment, ETH is trading at $1,810.63 after shedding a pathetic 0.94% of its daily gain 😴. Check out CoinMarketCap for the skinny on the latest prices 📊
Ethereum enthusiasts' on-chain activities show the depth of their structural conviction and their high hopes for short-term appreciation, fueling excitement about the future of Ethereum 🌟
Potential triggers for Ethereum price mayhem
A plethora of events in the following weeks could fan the flames of Ethereum's price explosion. The Ethereum Pectra Upgrade is set to embark on a rocket-powered launch on May 7 🚀
This is Ethereum’s chance to metamorphose: Interoperable addresses à la mode 🤩If all goes according to plan, Pectra will introduce gas sponsorship, multi-token payments, and half a dozen staking upgrades. These features promise to improve user experience, attract adoption, and ultimately, fuel investment 💰
The Ethereum community also finds itself in a bullish situation with ETF flows. If this bullish wave keeps surging, you can bet your last dollar that ETH will catch a sweet ride 🐠
- Despite ETH's price dropping from $4,107 in December 2024 to below $2,000 in March, Ethereum whales have shown unwavering faith, accumulating ETH without selling.
- The cost basis for accumulating addresses has decreased from $2,026 to $1,980, but their balances have remained stable or even grown, regardless of whether they belong to large or small investors.
- Ethereum enthusiasts' on-chain activities indicate a strong structural conviction and high hopes for short-term appreciation, fueling excitement about Ethereum's future.
- The Ethereum Pectra Upgrade, set to launch on May 7, could trigger a price explosion for ETH, introducing gas sponsorship, multi-token payments, and staking upgrades to improve user experience and attract adoption, ultimately fueling investment.
- The Ethereum community's bullish situation with ETF flows suggests that ETH could experience a meteoric rise if this bullish wave continues.
- As the Ethereum community adopts interoperable addresses, the Pectra Upgrade represents a transformative moment for Ethereum, opening doors to improved scalability, technology, and finance.
- It's crucial to remember that all investing involves risk, and this discussion is for informational purposes only, not financial advice. Always do your own research and consult a financial advisor before making investment decisions. (Disclaimer)
