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Ethereum Whales Accumulate Over 800K ETH Daily, Holdings Top 14.3M
- Whales accumulated over 800,000 ETH daily, leading to a total of 14.3 million ETH in holdings, impacting liquid supply.
- Ethereum experienced a 3.7% price decline, closing at $2,555.77 after a drop from $2,673.
- Wallets with 1,000 to 10,000 ETH added 871,000 ETH in a single day, showcasing heightened buying activity.
- These addresses collectively hold 27% of the total Ethereum in circulation, the highest concentration since 2017.
- Staking activity rose with over 500,000 ETH staked in June, reaching a total of 35 million ETH staked.
- Accumulation Addresses without selling history hit a peak at 22.8 million ETH, indicating increased holding behavior.
- External factors like ETF applications and derivatives tools, along with positive sentiment, continue to drive buying pressure.
- Technical indicators suggest Ethereum's price remains near $2,555, with future movements dependent on breaking $2,600 resistance.
- Analysts warn of potential downside risks if Ethereum loses its current range, with geopolitical events as possible accelerators.
- While holding and staking trends support Ethereum's market outlook, price direction hinges on key resistance levels and external triggers.
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