Investors Are Betting Big On Ethereum: 449,000 ETH Accumulated In 24 Hours

Despite a gloomy market climate, Ethereum sends a strong signal: 449,000 ETH were transferred in one day to accumulation addresses, an all-time record. This strategic move, observed during a price decline, reveals a steadfast confidence among some long-term investors. Contrary to the prevailing sentiment, this operation raises questions about a possible cycle change, while volatility remains high and economic uncertainties continue to weigh on the entire crypto sector.

A Historic Inflow to Accumulation Addresses

On April 22, 2025, Ethereum experienced one of the most significant movements in its recent history: 449,000 ETH were transferred to accumulation addresses. Indeed, this inflow, the highest ever recorded in one day on this type of address, occurred at an average price of $1,750.

This is a colossal accumulation that reflects a long-term investment strategy, even in a latent loss zone. At this price level, these holders show an average acquisition cost higher than the current market value, their realized price being estimated at $1,981.

This record operation fits into a renewed activity observed on the Ethereum network. Between April 20 and 22, the number of active addresses rose from 306,211 to 336,366, a 10% increase. This rise, far from trivial, reflects a return of user interest in the network. It is notably expressed by:

• An increased concentration of the circulating supply in wallets known for their strategic inertia;
• The maintenance of balances on these addresses despite bearish pressure on the crypto market;
• A growing correlation between network activity peaks and price consolidation phases.

These indicators demonstrate a fundamental dynamic driven by players who are betting on a medium to long-term recovery potential, even in the absence of an immediate catalyst.

Stagnant DeFi Activity and Technical Resistances at Play

Despite this network activity recovery, usages related to decentralized finance (DeFi) struggle to keep up. Trading volumes on DEXs are declining, and the number of weekly transactions stagnates around 1.3 million, according to DefiLlama data.

This dissociation between ETH accumulation and DeFi engagement reveals persistent tension in the ecosystem. Investors seem to be playing the reserve card, preferring to hold their assets rather than engaging them in protocols whose activity remains sluggish.

Technically, Ethereum faces notable resistance levels. A significant barrier stands at $1,895.50, where 1.64 million ETH are held, mainly by actors who invested in November 2024.

This concentration could generate significant selling pressure if the price approached it. At the same time, the ETH price currently oscillates around its 50-day exponential moving average (EMA), an indicator often used as a trend reversal threshold.

Trader Rektproof warns of a bearish fractal pattern. On April 24, 2025, he estimates on the X platform (formerly Twitter) that “the market could fall back below $1,400 if this scenario is confirmed.”

These elements outline a complex setup for the coming weeks. On one side, the record accumulation suggests renewed confidence in Ethereum’s fundamental value. On the other, the weakness of DeFi and technical pressure fuel an uncertain atmosphere. The evolution of these signals will be crucial to gauge investors’ intentions and anticipate the next phases of the crypto market.