Large cryptocurrency holders accumulated a record $ 1.28 billion in Ethereum over the week

Ethereum ETH $1,815.27 Bridged Ether (StarkGate) -0.27% Market capitalization $0.16 billion VOL. 24 hours $0.53 billion is slowly recovering from a 33% drop in price that occurred in late February. The main driver of this process was investor confidence: large volumes of ETH are being bought back at low levels, which may indicate expectations of further growth.

Over the past six days, the volume of ethereum on exchanges has decreased by 635,000 coins, which is approximately $ 1.28 billion. Such a large-scale outflow from centralized platforms signals an active phase of accumulation. Investors are withdrawing coins from exchanges for long-term storage, thereby reducing the supply on the market, potentially putting upward pressure on prices.

Additional evidence of this trend is the Liveliness indicator, which tracks the behavior of long-term holders (LTHs). Currently, it is at its lowest level in a month, which indicates that holders are not selling ETH but accumulating it. This is a sign of confidence in the future of the asset and willingness to hold it for a long time.

At the time of publication, Ethereum is trading at $ 2,025 and has reasserted the $ 2,000 mark as support. However, a real confirmation of the recovery is possible only after the breakout of resistance at $ 2,141. If this line is overcome, ETH will be able to move to the next price target of $ 2,344.

However, if the attempt to gain a foothold above $ 2,141 fails, the market could see a pullback below $ 2,000 again. In this scenario, the next support level will be $ 1,862. However, despite possible short-term fluctuations, the current level of investor interest in ETH indicates a gradual restoration of confidence in the asset after the February downturn.