Glassnode: Whale Holding Over 10k ETH Accelerates Accumulation, Recent Volatility Forms Accumulation Zone Around $2500

On July 9th, according to the data from Glassnode, whales that hold at least 10,000 ETH are speeding up their accumulation, and the pace is even quicker than that before the 95% surge in ETH in mid-2022. As of this Monday, the total amount of ETH held by these whales has rebounded from a historical low of 37.56 million in October 2024 to 41.06 million, representing an increase of 9.31%. This growth rate is nearly twice as fast as during the period from May to September 2022 (when the ETH price rose from around $1,000 to $1,950). A similar situation took place from November 2020 to January 2021. During that time, whale holdings increased by 4%, and the ETH price soared from $460 to $1,220. History shows that whales often start to accumulate before a full-scale market takeoff. The data from Glassnode indicates that the $2,500 - $2,536 range is the strongest accumulation area recently. Over 3.45 million ETH are concentrated at this cost basis, forming a key support level.