{"id":22804,"date":"2024-06-14T09:30:11","date_gmt":"2024-06-14T06:30:11","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22804"},"modified":"2024-06-14T09:28:46","modified_gmt":"2024-06-14T06:28:46","slug":"ether-massive-accumulation-long-term-holders","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ether-massive-accumulation-long-term-holders\/","title":{"rendered":"Ether Sees Massive Accumulation by Long-Term Holders Amid Price Dip"},"content":{"rendered":"<p><strong>Ether<\/strong> has recently seen one of its largest days in long-term holder accumulation, presumably leveraging a 2% price decline over 24 hours. &#8220;The demand for <strong>Ethereum<\/strong> has surged. The second largest on record yesterday was buying by permanent holders, according to Julio Moreno, chief of research for CryptoQuant, in a June 13 X post.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ether-massive-accumulation-long-term-holders\/#Record-Breaking_Accumulation_by_Permanent_Holders\" title=\"Record-Breaking Accumulation by Permanent Holders\">Record-Breaking Accumulation by Permanent Holders<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ether-massive-accumulation-long-term-holders\/#Ether_Faces_Persistent_Resistance_Around_3500\" title=\"Ether Faces Persistent Resistance Around $3,500\">Ether Faces Persistent Resistance Around $3,500<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/ether-massive-accumulation-long-term-holders\/#SEC_Chair_Hints_at_Upcoming_Approval_for_Spot_Ether_ETFs\" title=\"SEC Chair Hints at Upcoming Approval for Spot Ether ETFs\">SEC Chair Hints at Upcoming Approval for Spot Ether ETFs<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Record-Breaking_Accumulation_by_Permanent_Holders\"><\/span>Record-Breaking Accumulation by Permanent Holders<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Moreno<\/strong> noted that over a 24-hour period on June 12, accumulating addresses bought 298,000 Ether tokens\u2014equivalent to around $1.34 billion at the time of publication. The sum obtained was just 6% less than the September 11, 2023, record when long-term holders paid 317,000 Ether when the market dropped below $1,600.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/breaking-news-sec-chair-gary-genslers-announcement-on-ethereum-approval\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: Breaking News: SEC Chair Gary Gensler\u2019s Announcement on Ethereum Approval<br \/>\n<\/span><\/em><\/a><\/p>\n<p>Ether&#8217;s 8.49% price drop over the past seven days comes alongside this rise in demand. Originally declining on June 8 below $3,800, CoinMarketCap data shows that it failed to recover but stayed over $3,400 for the month. At the time of writing, the value of Ether stood at $3,472.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ether_Faces_Persistent_Resistance_Around_3500\"><\/span>Ether Faces Persistent Resistance Around $3,500<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>According to past price action, ETH bulls find this range around $3,500 to be rather resistant. &#8220;It might not be the end of the downside,&#8221; experts said, pointing to a comparable loss below $3,500 on April 11, which resulted in a 25% decline, with the with the lowest point being $2,814 on May 2.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SEC_Chair_Hints_at_Upcoming_Approval_for_Spot_Ether_ETFs\"><\/span>SEC Chair Hints at Upcoming Approval for Spot Ether ETFs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The chair of<strong> the<\/strong> United States Securities and Exchange Commission (SEC) has in the in the meantime indicated that spot Ether exchange-traded funds (ETF) might get final permission for trading prior to the end of September. According to reports on June 13, Gary Gensler, the SEC Chair, projected to legislators during a Senate Banking Committee hearing that the regulator might approve the final permissions for listing and trading shares of spot Ether ETFs within three months.<\/p>\n<p>On May 23, the SEC approved 19b-4 filings from eight applicants, allowing preliminary regulatory approval for spot Ether ETFs in the United States. However, trading can only commence upon the approval of the S-1 registration statements.<\/p>\n<p><a href=\"https:\/\/t.me\/coinengineernews\"><em><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!\u00a0<\/span><\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ether has recently seen one of its largest days in long-term holder accumulation, presumably leveraging a 2% price decline over 24 hours. &#8220;The demand for Ethereum has surged. The second largest on record yesterday was buying by permanent holders, according to Julio Moreno, chief of research for CryptoQuant, in a June 13 X post. Record-Breaking<\/p>\n","protected":false},"author":6,"featured_media":22805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[1729,105,6834],"class_list":["post-22804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-ether","tag-ethereum","tag-sec-chair-hints-at-upcoming-approval-for-spot-ether-etfs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ether Sees Massive Accumulation by Long-Term Holders Amid Price Dip - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ether-massive-accumulation-long-term-holders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ether Sees Massive Accumulation by Long-Term Holders Amid Price Dip - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Ether has recently seen one of its largest days in long-term holder accumulation, presumably leveraging a 2% price decline over 24 hours. &#8220;The demand for Ethereum has surged. 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