Ethereum inflow spikes often precede rallies, like the 35% surge after February 2023’s record inflows.
Ethereum accumulation addresses witnessed a record surge in daily inflows on Feb. 7, suggesting growing confidence in the cryptocurrency’s future price trajectory despite its recent underperformance compared to the broader crypto market.
ETH/USD daily price chart. Source: TradingView
Data resource CryptoQuant showed Ethereum accumulation addresses receiving 330,705 Ether (ETH ) worth $883 million—the highest ever in a day. As a result, the total ETH held by these long-term holders reached a record 19.24 million.
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