2026-01-23 05:24:23

Let's take a look at the two key data points for $ETH currently.

The realized price of ETH accumulated addresses is continuously rising and is almost close to the current price. This indicates that it's not being distributed, but rather that the chips are still being slowly absorbed, meaning the underlying is continuously accumulating positions.
The number of queued ETH staking is 2.81 million, not far from 3 million, and the queue time is 48 days.
There are only 800 ETH withdrawal requests waiting for 20 minutes to be processed, almost clearing out!
So, after looking at these two key data points, many people are confused: why isn't the ETH price rising? The reason is simple: ETH is still in the institutional accumulation phase. Institutional accumulation doesn't happen as a one-time purchase like retail investors; instead, it involves building positions in batches, usually over a period of at least six months.
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ETH-6,42%

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