Ethereum Spot Volume Declines While Long-Term Holders Continue Accumulating
Ethereum (ETH) is currently trading at $1,770, having declined by 3% over the past week and 1.6% in the last 24 hours, following a peak of $4,107 in December 2024. Spot volume for Ethereum is consistently decreasing, as indicated by a report from CryptoQuant analyst Darkfost. The diminishing size and color of volume bubbles suggest fewer trades and a slowing decline in volume. This trend may stabilize the market by reducing volatility from large sell orders, although it does not confirm a market bottom. In a separate analysis, CryptoQuant's Carmelo Alemán noted that long-term holders are increasing their ETH balances by over 22% despite unrealized losses, reflecting strong conviction in Ethereum's value. Accumulation addresses have grown from 15.5 million ETH to 19 million ETH, indicating potential for upward price movements as supply decreases when demand returns.
