Ethereum Liquid Staking Hits New ATH With 35.5 Million ETH Locked – Will Price Follow?

Ethereum's price has risen over 8% in two days, reaching nearly $2,600. On-chain data shows liquid staking and accumulation addresses nearing all-time highs. Liquid staking volume increased significantly in June, exceeding 35 million ETH. Accumulation addresses, holding ETH without frequent transactions, also grew substantially. These addresses, largely institutional investors, show long-term confidence and currently hold significant profits. The average acquisition cost for these addresses is around $2,114, resulting in a substantial profit margin. Technical analysis suggests a potential price breakout to $4,200. Increased institutional interest, mirroring MicroStrategy's Bitcoin strategy, further boosts optimism. However, maintaining support above $2,200 is crucial to avoid a potential drop to $1,160. Currently, Ethereum trades at approximately $2,593.