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CryptoQuant analysts have stated that since Ethereum reached its cyclical high of $4107 on December 16, 2024, its price has experienced a sustained pullback. But during this bear market phase, ETH accumulation addresses are still adding positions.
ETH accumulation addresses refer to addresses that continuously receive ETH without significant sales, and whose balance remains stable or increases over time, regardless of whether they belong to large or small holders. These addresses are usually long-term holders who have held Ethereum for more than 155 days.
On chain data shows that on March 10th, these cumulative addresses entered the unrealized loss zone, when Ethereum fell to $1866.7, while their average holding price remained at $2026.
Despite this, without realizing any losses, the ETH accumulation address is still increasing its ETH holdings: it held 15.5356 million ETH on March 10th and increased to 19.0378 million ETH on May 3rd, an increase of 22.54%.
In the long run, ETH investors have shown strong confidence in Ethereum assets, projects, and ecosystem. （CryptoQuant）
