Ethereum is currently experiencing one of the strongest accumulation phases in its history, despite the downward pressure that has pushed the price below the $2,000 level
Since last Friday alone, approximately 1.3 million ETH has flowed into dedicated accumulation addresses (Accumulation Addresses), with a total value approaching $2.6 billion based on current market prices
These addresses are characterized by having no historical withdrawals and continue to receive inflows only, reflecting a clear strategy from whales: buy and hold long-term.Whales now view prices below $2,000 as an extremely attractive opportunity and are noticeably accelerating their accumulation pace
This process did not start suddenly; the full-scale acquisition officially began in June 2025, but the intensity has surged dramatically in recent weeks—even as the price remains below the initial average cost basis of these addresses. This behavior demonstrates deep confidence in Ethereum’s future value, independent of short-term market volatility
As a result of this intense activity, total holdings in accumulation addresses have reached an all-time historical high of 27 million ETH, equivalent to roughly 23% of the circulating supply
This shift signifies a gradual transfer of supply away from centralized exchanges and day traders toward strategic long-term holders betting on network growth through staking, DeFi, Layer 2 solutions, and future institutional applications
Although a large percentage (more than 58%) of Ethereum addresses are currently in unrealized loss territory, strong inflows into accumulation addresses have frequently served as a leading indicator for major recovery cycles, as seen in previous cycles (2019–2021)
The current price—approaching or dipping below the Realized Price of accumulation addresses—is considered a strong psychological and fundamental support zone, where whales tend to “buy the dip” rather than panic-sell
On a broader scale, this accumulation is supported by positive on-chain developments: declining exchange inflows, growing staking participation, and improved network efficiency following upcoming upgrades. All these factors reduce available sell-side supply and increase potential upward pressure once demand returns
Ultimately, the message from this large-scale accumulation is crystal clear: the big players are not selling—they are aggressively collecting
History shows that phases like this often precede major bullish explosions
For investors, this period may represent a rare opportunity to join before the trend reverses dramatically
#WhaleDeRiskETH #MarketCorrection
