ETH Investors Engage in Massive Accumulation Despite Price Plunge Under $2,000
Despite Ether's price decline beneath the $2,000 threshold, accumulation wallets show significant inflows, indicating robust long-term investor conviction.
Since Friday, Ethereum accumulation wallets have experienced a notable spike in daily inflows, indicating rising investor belief in the long-term price potential of Ether (ETH) even as it recently fell beneath the $2,000 mark.
Key takeaways:
- The decline of Ether beneath $2,000 has resulted in 58% of wallet addresses holding unrealized losses.
- Approximately $2.6 billion worth of ETH has been absorbed by accumulation addresses across a five-day period.
- Critical Ether support levels below $2,000 to monitor include $1,800, $1,500, $1,200, and in worst-case scenarios, a potential range of $750–$1,000.
Over half of Ether wallet addresses are currently unprofitable
A 38% decline in Ether's value throughout the past month has pushed it beneath crucial support thresholds, including the mean entry price for accumulation wallets, the cost basis for spot Ethereum ETF participants, and the psychologically significant $2,000 level.
Currently, the ETH/USD trading pair sits 60.5% beneath its record high of $4,950, placing a substantial number of investors in negative territory. Among them is BitMine, the globe's largest Ethereum treasury associated with investor Tom Lee, which has witnessed its unrealized losses expand to more than $8 billion.
Trading at $1,954 on Wednesday, ETH leaves just 41.5% of Ethereum wallet addresses showing profits, whereas more than 58% are experiencing losses.
The present market price of Ether also falls beneath the mean cost basis for accumulation wallets, which currently stands at $2,580, indicating that investors holding for the long term are facing mounting pressure.
Investors in ETFs are likewise experiencing significant strain. James Seyffart, senior ETF Analyst at Bloomberg, pointed out that holders of Ethereum ETFs currently face a more challenging situation compared to those holding Bitcoin counterparts.
Trading below $2,000, the altcoin is positioned significantly beneath the estimated average cost basis for ETF investors of approximately $3,500.
Accumulation addresses absorb 1.3 million ETH across five-day period
Notwithstanding the significant downturn, investor belief has not completely diminished. Information from CryptoQuant revealed that Ethereum accumulation wallets have taken in 1.3 million Ether valued at roughly $2.6 billion based on current market rates.
The "full-scale accumulation" of ETH started in June 2025, and is "proceeding even more aggressively," CryptoQuant analyst CW8900 said in Wednesday's Quicktake analysis, adding:
"The current price will likely appear attractive to $ETH whales."
Consequently, the aggregate ETH stored by these long-term investors hit an unprecedented 27 million. This represents a 20.36% increase thus far in 2026 notwithstanding the ETH price decreasing 34.5% during the identical timeframe.
Wallets classified as accumulation addresses are those that persistently receive ETH while never executing any outbound transactions. These may be owned by long-term investors, institutional participants, or entities methodically accumulating Ether instead of engaging in active trading.
Significant increases in inflows to these wallets commonly indicate powerful belief in Ether's long-term prospects, with historical patterns demonstrating that such surges often come before price increases.
As an illustration, on June 22, 2025, Ethereum accumulation wallets documented a then-record high daily inflow exceeding 380 million ETH. Approximately 30 days following that event, ETH's value increased by nearly 85%. A 25% rally in price occurred after November 2025's spike in inflows to the accumulation wallets.
Critical ETH price support levels beneath $2,000
The ETH/USD trading pair has extended its decline below $2,000, a crucial support threshold, which bullish traders must recover to avoid additional downward movement.
"$ETH failed to hold above the $2,000 level and is now going down," crypto analyst Ted Pillows said in an X post on Wednesday, adding:
"The next key level is around the $1,800-$1,850 level if Ethereum doesn't reclaim the $2,000 level soon."
Fellow analyst Crypto Thanos shares similar views, telling followers to "get ready" for a $1,500 ETH price if $2,000 is not reclaimed by the end of the week.
Taking a broader perspective, LadyTraderRa said Ether is "definitely going" to retest the $750-$1,000 zone, based on past price action on the monthly candle chart.
Glassnode's UTXO realized price distribution (URPD), which shows the average prices at which ETH holders bought their coins, reveals that below $2,000, key support levels for ETH sit at $1,880, $1,580, and $1,230.
As Cointelegraph reported, the ETH/USD pair could drop to $1,750 and then $1,530, after failing to hold above $2,100.