In November, 3.24 million ETH were collected by Ethereum accumulation addresses.
Between Sunday and Thursday, whales added 480,000 ETH to their balance.
After tumbling at the 50-day exponential moving average (EMA), ETH has broken through the $3,100 support level.
Ethereum (ETH) fell 3% on Friday, with a short dip below $3,100, despite heavy purchasing from accumulation and whale addresses.
Even if ETH's drop was 45%, accumulation addresses and whales were still buying.
One of the most robust accumulation patterns in Ethereum is happening right now. The greatest monthly inflow for accumulation addresses in 2025 occurred in November, when 3.24 million ETH was collected, according to statistics from CryptoQuant.
Addresses for Ethereum Accumulation and Their Balance. Author: CryptoQuant
Accumulation addresses are used by freshly formed accounts and are wallets that do not have a record of selling activity.
So far this month, these addresses have received almost 1.6 million ETH, extending the pattern into December.
The sharp decline in the price of ether (ETH), which plummeted from $4,755 on October 7 to $2,623 on November 21, is happening at the same time as the uptick in purchasing activity. As prices drew near their average cost base, the move indicates a strong buy-the-dip mindset among this generation.
A support level for ETH in 2025 was the average cost base of accumulating addresses, according to CryptoQuant statistics. It is worth mentioning that ETH saw a rebound at this level on both November 21 and December 1.
Accumulation Addresses Realized Price in ETH! Author: CryptoQuant
Prices in this range are in line with what whales often get, which is between 10,000 and 100,000 ETH. In November, this group increased their holdings by 1,450,000 ETH.
Ethereum Holdings Organized by Holder Value (10,000 to 100,000)! Author: CryptoQuant
They ramped up their distribution activity this week, adding 480,000 ETH between Sunday and Thursday, after a very light distribution previous week.
Analysis of the Ethereum Market: ETH Dips Below the 50-Day Exponential, Breaks Through $3,100
Long liquidations accounted for $113.8 million of the $139.2 million in liquidations that occurred on Ethereum in the last 24 hours, according to statistics from Coinglass.
After stalling around the 50-day EMA, ETH has broken through support at $3,100. The leading cryptocurrency may drop below $2,380 if the downtrend persists and ETH doesn't find support at the $2,850 crucial level or an ascending trendline that starts on December 2.
Stochastic Oscillator (Stoch) and Relative Strength Index (RSI) are now testing their neutral levels and are in a decline. The negative momentum might be accelerated if they firmly drop below their neutral levels.
