Ethereum Sees $140.6M Accumulation, Now ETH Needs to Hold Above $3,085
After a week of bullish consolidation, Ethereum ETH $3 207 24h volatility: 3.4% Market cap: $386.89 B Vol. 24h: $26.96 B saw a sharp decline due to the new tariff threats from US President Donald Trump, but investors continued their accumulation nonetheless.
According to data from CoinGlass, the leading altcoin recorded a net outflow of 43,990 ETH, worth roughly $140.6 million, from leading centralized exchanges, including a 17,780 ETH outflow from Binance, over the past 24 hours.
This brings the weekly accumulation to 239,200 ETH, currently worth $766 million.
The CEX net outflows show that the long-term investor optimism is much higher than that of short-term traders.
Ethereum (ETH) price touched a local high of almost $3,400 last week. But due to the latest market-wide selloff, ETH is now trading at $3,200.
The latest bearish momentum in the crypto market came after Trump announced new tariffs of 10% on goods from eight European countries unless they agree to let the US pursue a deal on Greenland.
Ethereum’s Fundamental Growth
Crypto analyst Ali Martinez says that Ethereum would need to hold above $3,085 to “have a chance of a bullish breakout.”
Martinez, in his X article, pointed out Ethereum’s network and user growth, which have strongly brought momentum to the leading altcoin.
He wrote that Ethereum’s daily active addresses have doubled to over 800,000 over the past two weeks.
On Jan. 16, Coinspeaker reported that Ethereum’s month-over-month onchain activity also doubled from 4 million to 8 million active addresses over the past 30 days.
Moreover, about 2.5 million transactions per week are happening on average on Ethereum. That’s the highest level ever, and almost double compared to a year ago.
Despite the massive rise in network activity, the network’s average fees dropped to $0.15 (even to as low as $0.04 in some cases), marking an all-time low.
High transaction numbers mean people are actually using Ethereum, not just holding ETH and waiting for the price to go up. Now, with fees under $0.20, Ethereum becomes usable for small payments, stablecoin transactions, and everyday applications.
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