Ethereum New Buyers Drive On-Chain Activity Surge Amid Strong Long-Term Holder Accumulation

Key Points

1. Ethereum's new buyers have driven a notable increase in on-chain activity since July 20, 2024, with transaction volumes approaching May 2021 highs.

2. Long-term holders are accumulating ETH during price consolidation, indicating high confidence in its future value.

3. On-chain transfer amounts in USD have exceeded December 2024 levels, suggesting increased participation by large funds and improved liquidity.

4. Ethereum 2.0 staking data shows nearly 700,000 ETH queued for withdrawal, signaling a shift from early holders to newer institutional investors.

5. Despite ETH's price remaining below $4,000, the surge in on-chain activity and accumulation highlights strong market participation and growth potential.