Ethereum made quiet yet notable strides in June, with accumulation by long-term holders and staking activities soaring to record levels, despite mild price action.
According to data released on July 3, June marked the largest monthly accumulation ever recorded among Ethereum’s non-exchange linked addresses—wallets with minimal outflows—which collectively added over 6 million ETH to their holdings. These accumulation addresses closed June holding around 22.75 million ETH, up significantly from 16.73 million recorded at the beginning of the month, signifying an increase close to 36%.
Meanwhile, Ethereum’s staking ecosystem also reached new heights last month. Total ETH staked on platforms such as Lido DAO and Binance climbed by nearly 1 million ETH, growing from 34.55 million to around 35.56 million. Analysts suggest this surge can be primarily attributed to long-term institutional investors who stake to generate passive yield while positioning for potential price appreciation.
Currently, Ethereum accumulation addresses have an average realized price of $2,114.70, translating to approximately 21% of unrealized profit at the present Ethereum price level of roughly $2,596. With ETH comfortably above their cost basis, pressure to sell appears minimal. The cryptocurrency experienced a meaningful recovery, gaining around 6% in the past 24 hours, after fluctuating between roughly $2,393 and $2,600 over the last week.
On the technical side, Ethereum’s price has reclaimed a position above its 20-day exponential moving average, pressing against the upper boundary of its recent price range. Additionally, widening Bollinger Bands signal rising volatility, while momentum indicators, including RSI at 57.6 and a positive MACD crossover, suggest bullish sentiment is strengthening.
Analysts believe that sustained buying activity coupled with increased trading volumes could propel ETH towards near-term resistance zones between $2,750 and $2,800. Conversely, should selling pressure reappear, key supports are expected around $2,450 and subsequently at $2,280.
The robust accumulation and staking trends throughout June indicate solid investor optimism around Ethereum, even amid relatively flat price action. Whether the market adjusts upward or continues its range-bound movement, investor conviction and ongoing staking activity seem poised to play crucial roles going forward.
