CryptoQuant analyst sunmoon has reported a significant increase in accumulation activity by Ethereum long-term holders throughout June.
This heightened buying occurred during a period of relative market consolidation, characterized by stable prices and reduced volatility.
Historical patterns suggest that such concentrated accumulation by long-term investors often precedes potential shifts in Ethereum’s price trajectory and broader market sentiment.
The strategic positioning of these holders indicates a potential vote of confidence in Ethereum’s long-term value proposition despite the recent lack of significant price movement.