Demand for Ether from long-term holders rocketed on June 12 as the price fell below $3,500, just before the SEC’s Gary Gensler gave a forecast for spot Ether ETF approval.
Ether (ETH) has just notched one of its biggest days in long-term holder accumulation — seemingly taking advantage of a 2% price drop over 24 hours.
“Ethereum demand has spiked. Buying by permanent holders was the second highest on record yesterday,” CryptoQuant head of research Julio Moreno wrote in a June 13 X post.
Moreno highlighted that 298,000 Ether tokens were acquired by accumulation addresses over a 24-hour period on June 12 — equivalent to roughly $1.34 billion at the time of publication.
