Price Drops, Accumulation Rises: Ethereum’s Optimistic Contradiction

Ethereum accumulator wallets have experienced a notable increase in deposits, with close to 400,000 ETH added within just 24 hours, even as the asset’s price slipped below $4,000. On-chain data reveals that this trend underscores ongoing confidence from institutional and long-term holders in Ethereum’s future prospects. This recent inflow stands out as one of the largest accumulation phases in Ethereum’s history, with a record 1.2 million ETH deposited on September 18 alone Ethereum Accumulator Addresses Inflows Explode: 400K ETH Added In 24H Despite Selloff [ 1 ]. These wallets, which only receive ETH and do not send it out, are widely seen as indicators of institutional and strategic accumulation, reflecting strong belief in Ethereum’s long-term value Ethereum an 'obvious buy' as accumulation addresses... [ 2 ].

This uptick in inflows comes alongside rising interest in Ethereum-related investment vehicles, such as spot ETFs. Some analysts believe that certain accumulator wallets may be associated with institutions managing these ETFs, which have recorded higher net inflows recently. For example, CryptoQuant data shows that

accumulator wallets took in 330,705 ETH (worth $883 million) in a single day at the start of 2025, bringing their total holdings to 19.24 million ETH Ethereum an 'obvious buy' as accumulation addresses... [ 2 ]. This pattern is consistent with previous cycles, where large deposits into accumulator wallets have often preceded price surges. Noteworthy instances include a 35% rally in late 2023 after a 244,000 ETH inflow, and a similar price jump in July 2024 Ethereum an 'obvious buy' as accumulation addresses... [ 2 ].

Despite these encouraging on-chain developments, Ethereum’s price continues to face downward pressure. Since mid-September, the asset has dropped more than 14%, challenging the $4,000 support zone. Chart analysis indicates that a fall below this level could open the door to further declines, possibly toward $3,800 or $3,600. On the other hand, holding above $4,000 could set the stage for a move back up to the $4,200–$4,400 resistance area. The price has slipped below key moving averages, such as the 12-hour 50 and 100, but is still trading above the 200-day moving average near $3,800 Ethereum Accumulator Addresses Inflows Explode: 400K ETH Added In 24H Despite Selloff [ 1 ]. Momentum indicators also show that bullish strength is fading, with sellers dominating and each bounce producing lower highs.

The accumulation pattern is further supported by both retail and institutional activity. Large holders with balances between 10,000 and 100,000 ETH have been steadily increasing their positions, and the number of accumulating retail wallets has also grown in 2025 despite the price weakness. This suggests that investors are taking advantage of recent lows to accumulate ETH as a long-term investment. Analysts link this behavior to hopes for clearer regulations in the DeFi space, especially under U.S. President Donald Trump’s administration, as well as a broader movement toward Ethereum as a core asset in the digital asset market Ethereum an 'obvious buy' as accumulation addresses... [ 2 ].

Looking forward, the next few weeks will be crucial for Ethereum’s price direction. If the price can recover and hold above $4,000, it could confirm that accumulation is fueling a broader recovery. However, a drop below $3,950 could trigger more selling. Institutional participation, including corporate treasury investments and ETF inflows, will be key factors in determining Ethereum’s path. Should buyers manage to protect important support levels, ETH may attempt to revisit the $4,200–$4,400 range, in line with the ongoing accumulation seen in these wallets. Still, ongoing macroeconomic uncertainty and competition from other layer-1 blockchains like

could pose challenges to Ethereum’s short-term momentum Ethereum Accumulator Addresses Inflows Explode: 400K ETH Added In 24H Despite Selloff [ 1 ] Ethereum an 'obvious buy' as accumulation addresses... [ 2 ].