Lead
Investors accumulated a substantial chunk of Ethereum during the latest market pullback, with on-chain data showing 394,682 ETH—worth roughly $1.37 billion—absorbed over just three days. The buying came at an average price of about $3,470, amounting to 0.33% of ETH’s total supply.
Key Developments
- 394,682 ETH accumulated during the downturn
- ≈ $1.37 billion in total value
- Average buy price: ~$3,470 per ETH
- 0.33% of total supply absorbed within three days
On-chain analytics from CryptoQuant highlight a pronounced rise in accumulation activity as prices softened, a pattern often associated with larger or more strategic market participants taking advantage of volatility.
Market Context
The accumulation occurred amid a broader risk-off move in crypto markets, with Ethereum retreating from recent highs. While short-term price action remained choppy, the data suggests notable demand emerged near the $3,470 area.
“Smart money doesn’t panic — it accumulates.”
The absorption of 0.33% of total supply in such a brief window is material for a highly liquid asset like ETH. It may indicate:
- Dip-buying by larger holders (“whales”) or institutions
- Strategic repositioning as prices tested support levels
- Potential supply tightening if purchased coins move off exchanges into cold storage or staking
What to Watch
- Exchange reserves: Continued outflows could signal sustained accumulation pressure
- On-chain flows: Tracking whether acquired ETH moves to long-term wallets or staking
- Price reaction near $3,470: The average acquisition level could act as a short-term reference point for traders
Conclusion
Significant dip-buying in Ethereum—nearly $1.4 billion over three days—underscores ongoing demand during volatility. While not a guarantee of near-term price direction, the scale and speed of accumulation point to strong interest in ETH at current levels, warranting close monitoring of on-chain flows and exchange balances in the days ahead.