Permanent ETH holders bought 298,000 ETH in a single day, marking the second-largest daily purchase ever. This surge follows significant outflows from Coinbase and indicates growing confidence among long-term investors.
Julio Moreno from CryptoQuant highlights that the highest daily buy was on September 11, 2023, with 317,000 ETH. Despite the recent 9% price correction, Ethereum’s on-chain metrics remain strong.
Currently trading under $3,500, ETH needs to hold this support to aim for $4,000. The potential approval of a spot Ethereum ETF by the U.S. SEC this summer could drive major capital inflows.
This event underscores the strategic importance of Ethereum in the crypto market and the increasing trust of permanent holders.
