The 35% surge that took place following the record inflows of February 2023 is a common occurrence in Ethereum, as it frequently follows rallies.
Summary
On February 7, Ethereum accumulation addresses experienced a record-breaking increase in daily inflows, indicating that there is a growing level of confidence in the cryptocurrency’s future price trajectory, despite its recent underperformance in comparison to the broader crypto market.
Ether Accumulators Enter $883 Million in ETH a Day
According to the data resource CryptoQuant, Ethereum accumulation addresses received 330,705 Ether, which is equivalent to $883 million, the highest amount ever in a single day. Consequently, the aggregate amount of ETH held by these long-term holders reached a record high of 19.24 million.
That represents a 20.55% increase thus far in 2025, even though the price of ETH has declined by 20.75% during the same period.
Accumulation addresses are vaults that receive ETH indefinitely without conducting any outgoing transactions. They may be the property of long-term holders, institutional investors, or entities that are strategically accumulating Ethereum rather than actively trading it.
Recent trends indicate that such surges frequently precede price rallies, and large increases in payments to these addresses often signal strong confidence in Ethereum’s long-term potential.
For instance, on February 26, 2023, Ethereum accumulation addresses registered a daily inflow of over 244,000 ETH, which was a record at the time. ETH’s price experienced a nearly 35% increase nearly two months later.
The inflow surge into the accumulation addresses in July 2024 resulted in a comparable price rally.
In the same period, ETH inflows into US-based spot Ethereum exchange-traded funds (ETFs) have increased, reaching approximately the same levels as November 2024, when Donald Trump’s reelection as the US president supported the upside bias across the crypto market.
Further reinforcing the accumulation trend is a distinct on-chain metric that monitors Ether holdings across accumulating retail addresses.
It is worth noting that whale addresses that possess between 10,000 and 100,000 ETH have consistently increased their balances. Furthermore, the total number of retail addresses that have been accumulating has increased in 2025, despite the price decline. It is important to note that the majority of these entities are purchasing at exceptionally low prices that have persisted for multiple weeks.
An analyst at CryptoQuant called MAC_D said that these large deposits into accumulation addresses “reflect expectations of DeFi regulatory de-risking as part of Trump’s pro-crypto policies following his election and suggest that smart money is likely to accumulate aggressively regardless of price.”
Coinvo, a market analyst, interprets this as a clear indication that Ether is an “evident purchase,” which is consistent with the views of Abra founder and CEO Bill Barhydt regarding the possibility of ETH reaching $16,000 during the Trump presidency.
Ethereum Will Struggle to Reach $4K
Traders continue showing a comparatively lower level of interest in Ether than in its rival assets.
The ETH/BTC pair has declined by approximately 75% since 2021, illustrating Ether’s multi-year decline in comparison to Bitcoin.
The competition from other layer-1 blockchains, particularly Solana, has become more intense, and Ethereum is facing this challenge.
Solana’s rapid adoption and scalability have drawn decentralized finance (DeFi) and non-fungible token (NFT) initiatives, sectors in which Ethereum previously held a dominant position.
Consequently, SOL/ETH has experienced a significant increase of approximately 1,025% in the past two years since its nadir of 0.00670 ETH.
Moreover, the anticipated deflationary impact of Ethereum’s transition to proof-of-stake (PoS) has not occurred as anticipated. The ETH supply growth rate is currently at or near zero, suggesting that the Merge’s impact on the reduction of Ether’s supply has reached an endpoint.
Aurelie Barthere of Nansen believes that Ether will surpass $4,000 if it capitalizes on regulatory momentum and adjusts to the increasing competition from other Layer-1s.
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