In June, Ethereum’s price remained stable, yet statistics reveal that the network achieved historic highs in several performance metrics. As July commenced, the crypto market began to rise on the news of a US trade deal with Vietnam and an increase in money supply.
Market Awakening
On July 3, ETH experienced a sharp 6% gain in 24 hours, trading above $2,600. This increase suggests that the market may finally be recognizing the underlying strength accumulating within the network.
Records in Accumulation and Staking
According to the ETH Cohort Study, accumulation addresses, which exclude centralized exchanges, reached a record of 22.7465 million ETH held as of June 30. This figure represented a nearly 36% increase from 16.7281 million ETH on June 1. Throughout June, these wallets recorded their highest single-month purchases, adding 6.0184 million ETH.
Ethereum's Treasury Era
Certain corporations are beginning to accumulate ETH for their treasury strategies. SharpLink, for instance, is planning a $250 million ETH allocation. This indicates a new era for Ethereum, where it serves both as a reserve asset and a yield generator.
Record levels of accumulation and staking, coupled with growing interest from institutional investors and corporate treasuries, indicate increasing confidence in the long-term outlook for Ethereum.
