Ethereum (ETH) suffered a fresh decline of 1.5% over the past day as it hovered near $4,520. Despite the sluggish price action, the asset has entered an extraordinary new accumulation phase.
In fact, new data show that balances held by Accumulating Addresses have more than doubled in just under four months.
ETH Hoarding At Record Levels
According to CryptoQuant’s findings, historically, from 2018 until mid-2025, these addresses demonstrated a consistent but gradual increase and reflected steady long-term interest. However, since June 1st, 2025, this pattern has switched dramatically into an exponential growth curve.
On that date, balances stood at around 13 million ETH, but by mid-September 2025, the figure had surged to nearly 28 million ETH. This was over a two-fold increase in record time.
Such an acceleration highlights aggressive accumulation by strategic and large-scale investors, and points to confidence in ETH’s long-term value proposition. The sheer magnitude of this deman
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