"Ethereum, large accumulation at $4,300~4,400…potential support"

It was reported that large-scale accumulation occurred when the price of Ethereum (ETH) was at $4,300~4,400.

Crazzyblockk, a CryptoQuant contributor, said on the 11th (local time) via CryptoQuant, "About 1.7 million Ethereum were added to accumulation addresses in the $4,300~4,400 price range," and "the average purchase price of addresses that recently withdrew Ethereum from (crypto) exchanges is also formed in the $4,300 range."

Crazzyblockk emphasized that the range is a "potential support." Crazzyblockk analyzed, "(Ethereum's price) is currently showing high sensitivity to maintaining the $4,300~4,400 range," and "the fact that 1.7 million Ethereum were accumulated in that range strengthens market attention and its significance as a potential support zone."

He also mentioned the purchase price of Ethereum flowing into Binance, the world's largest cryptocurrency exchange. Crazzyblockk said, "Most Ethereum withdrawals occurred at $4,300~4,400, but Ethereum flowing into Binance showed a different pattern," and "the average purchase price of addresses that deposited Ethereum into Binance is formed in the $3,150 range." He added, "(This) shows the complex market dynamics of Binance."

Meanwhile, Ethereum was trading at $4,422.31 on CoinMarketCap as of 7:41 PM that day. It is a 2.1% increase from the previous day.