Over 640,000 ETH flowed into dormant wallets in just 48 hours, marking the largest influx since 2018. Ethereum price is currently around $1,787 amid cooling market conditions. Analysts suggest a potential breakout could elevate ETH prices to $6,000–$8,000. Key indicators show growing network activity and confidence among long-term holders.
In a significant development for Ethereum, more than 640,000 ETH has found its way into wallets that have never sold, marking the largest influx since 2018, as indicated by CryptoQuant. This accumulation appears to reflect the behaviour of long-term holders who tend to keep their investments untouched, suggesting a strong conviction in Ethereum’s potential despite market fluctuations.
Currently, Ethereum’s price sits at around $1,787, following a slight dip after previously surpassing $1,800. This represents a modest daily increase of 1.29%. Yet, the overall trading volume has dropped by 9%, resting at about $15 billion. While short-term price movements might seem concerning, the actions of steadfast investors hint at their faith in Ethereum’s outlook.
OnChainSchool, a CryptoQuant contributor, has pointed out that the accumulation phase occurs amidst cooling market sentiments. Meanwhile, Ethereum’s fundamental developments are progressing, including its transition to proof-of-stake and the adoption of Layer 2 solutions. These advancements could bolster Ethereum’s ecosystem, despite recent price pressures.
In tandem with these positive signs, there’s been growing activity within the Ethereum network; more addresses are being used and transaction volumes are climbing. This suggests the community remains engaged, even if market prices don’t reflect that enthusiasm. Furthermore, as Ethereum’s staking becomes increasingly user-friendly, long-term holders might be positioning themselves in preparation for future price hikes.
Analyst Ali Martinez has observed a drop in Ether’s Entity-Adjusted Dormancy Flow below one million, a level that historically signals potential undervaluation. This metric indicates how long tokens have remained inactive, and a low dormancy flow typically implies underlying confidence from long-term holders.
Optimism also appears to be growing around Ether’s price prospects, as a trader known as Bitcoinsensus has pointed out a developing bull flag pattern on Ethereum’s monthly chart. If this pattern confirms, it could send ETH spiralling upwards toward $8,000. Meanwhile, TraderPA has echoed this sentiment, suggesting Ethereum might reach $6,000 by year-end, as the market anticipates robust performance in the latter half of 2025.
Some analysts predict that if the accumulation continues and technical factors remain favourable, Ethereum could even achieve a new all-time high before the end of 2025. This signals that investors may be gearing up for a significant bullish trend beneath the current surface fluctuations.
