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Ethereum’s price has recently mirrored broader trends in the cryptocurrency market, rising to above $1,800 before retracing as part of a wider market correction.
At the time of writing, ETH is trading at $1,754, showing a 3.3% decrease in the past 24 hours, while the total crypto market cap slipped by 3.6% during the same period.
Although short-term price movements reflect shifting momentum, on-chain metrics signal deeper changes that may have broader implications for Ethereum’s network health and investor sentiment.
Ethereum Long-Term Holders Accumulate as Inflows Hit Multi-Year Highs
Recent data from CryptoQuant reveals that long-term Ethereum holders are increasing their activity. These wallets, known for never selling their ETH, have seen one of their highest inflows in recent years.
This coincides with rising network activity, including a notable uptick in active addresses and transactional volume. Together, these developments suggest that behind the surface-level volatility, there may be a quiet phase of accumulation and user engagement building within the Ethereum ecosystem.
CryptoQuant contributor OnChainSchool reports a significant development among Ethereum’s long-term holding addresses. In the last 48 hours, over 640,000 ETH flowed into wallets that have maintained a strict accumulation pattern without any recorded selling behavior.
This marks the largest inflow to such wallets since 2018, suggesting that entities with a long-term outlook are increasing their exposure during the current price range.
The behavior of these accumulation-only wallets is often viewed as a proxy for investor conviction, particularly among participants who are not influenced by short-term volatility.
According to OnChainSchool, this activity during a period of price drawdown may reflect strategic positioning ahead of potential future developments.
It’s also notable that these inflows come at a time when Ethereum fundamentals such as its transition to proof-of-stake, L2 adoption, and evolving staking mechanisms continue to advance. If sustained, this trend could help establish a support zone around current price levels.
Network Activity Rises as Active Addresses See Double-Digit Growth
Complementing the rise in long-term holder activity is a surge in Ethereum network usage. Another CryptoQuant analyst, Carmelo Alemán, highlights that the number of active Ethereum addresses grew by nearly 10% between April 20 and April 22, jumping from around 306,000 to over 336,000.
This metric counts unique wallet addresses that were involved in transactions as either senders or receivers over a given period. While active addresses alone do not capture the full picture, Alemán notes that the metric should be viewed alongside others such as exchange volume, gas fees, transaction count, and Layer 2 activity.
The rise in address activity, especially when paired with a simultaneous price increase, is often taken as a sign of broader user engagement and growing application-layer demand.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
