Ethereum Price Stagnation and Market Dynamics
- Ethereum trades at $1,770, down 3% over the past week and 1.6% in the last 24 hours.
- The asset reached a cycle high of $4,107 in December 2024.
- Spot volume is declining, with fewer trades conducted recently.
- Accumulation addresses increased their balances by over 22% from March to early May.
- These addresses grew from holding 15.5 million ETH to 19 million ETH during this period.
Ethereum’s price remains stagnant at $1,770, with a notable decline in spot volume and an increase in accumulation by long-term holders who have grown their holdings by over 22% since March.
Source (2.6)https://www.newsbtc.com/news/ethereum/ethereum-spot-volume-declines-while-long-term-holders-continue-accumulating/?rand=52377
