Ethereum Accumulation Surges 35.97% in June Amid Strong Staking Activity

Ethereum experienced a significant surge in accumulation and staking activity in June, marking a historic month despite muted price movements. According to an analysis by CryptoQuant contributor Carmelo Alemán, Ethereum's accumulation addresses, which are wallets with minimal outflows and no links to centralized exchanges, saw a substantial increase. At the end of June, these addresses held a combined 22.75 million ETH, up from 16.73 million ETH on June 1, representing a 35.97% increase and the largest monthly gain ever recorded for this category. This accumulation of over 6 million ETH in a single month indicates growing confidence among strategic holders.

Ethereum's liquid staking also reached a new all-time high, with the amount of ETH staked on platforms like Lido DAO and Binance rising by nearly 1 million to 35.56 million. This increase suggests that many of these addresses likely belong to institutions or long-term investors who are staking to generate yield while awaiting potential gains.

As of early July, accumulation addresses had an average cost basis of $2,114.70. With ETH trading above $2,500, these holders are sitting on a 21.29% unrealized gain, indicating that there is minimal immediate pressure to sell. This strong conviction from long-term holders and institutional players could be a precursor to a potential breakout in Ethereum's price.

Technical analysis of Ethereum's daily chart shows the price trading back above the 20-day exponential moving average and testing the upper band of its recent range. Bollinger bands are beginning to widen, suggesting that volatility is increasing. The relative strength index stands at 57.6, rising but not yet overbought, which indicates there may be more upside potential. After weeks of sideways trading, volume is gradually increasing, and both momentum and MACD indicators suggest that buying interest is returning.

If Ethereum breaks above the $2,600–$2,640 resistance zone with steady volume, the next upward target could be the $2,750–$2,800 range. On the downside, key support levels are at $2,450 and $2,280. The strong accumulation and staking activity, coupled with the technical indicators, point to a potential breakout for Ethereum in the near future.