February 11, 2025
Ethereum (ETH) accumulation addresses recently saw a record surge in daily inflows, with 330,705 ETH entering these wallets, pushing the total held by long-term holders to 19.24 million ETH. This marks a 20.55% increase in 2025, despite a 20.75% price decline for ETH.
Rising Inflows
Accumulation addresses, which receive ETH without making outgoing transactions, are often linked to long-term holders or institutional investors. These surges typically signal confidence in the future of Ethereum, as seen in past price rallies following similar inflow spikes, such as in February 2023.
In addition to accumulation addresses, Ethereum inflows into U.S.-based spot Ethereum ETFs have risen, and whale addresses holding between 10,000 and 100,000 ETH have steadily increased their holdings. Many retail addresses are also accumulating ETH at lower prices.
Competition Heats Up
Despite the optimism, Ethereum faces significant competition by other blockchains like Solana (SOL), whose rapid adoption has drawn in plenty of DeFi and NFT projects which were formerly on Ethereum. The ETH/BTC pair has also dropped by about 75% since 2021.
Moreover, Ethereum transitioning to Proof-of-Stake (PoS) has not had the expected deflationary effect, with supply growth nearly stalled. Still, various analysts, including Aurelie Barthere of Nansen, suggest ETH could reach $4,000 if it adapts to competition and leverages regulatory momentum.
