Ethereum’s Diamond Hands Go All-In—Here’s Why It Matters

ETH’s staunchest holders aren’t just hodling—they’re doubling down. While paper hands panic-sell during dips, these crypto veterans keep accumulating, betting big on Ethereum’s long-term play.

What’s driving the buy-and-never-sell crowd? Layer-2 adoption burns fees like never before, and the Merge’s proof-of-stake pivot keeps inflation in check. Meanwhile, Wall Street ’experts’ still can’t tell a smart contract from a PDF.

One thing’s clear: When the OGs refuse to cash out, it’s either genius conviction... or the ultimate bagholder paradox.

• Over 640,000 Eth flowed into unsold wallets in 48 hours, largest since 2018, per CryptoQuant.
• Ethereum’s Dormancy Flow dropped below one million, signaling quiet accumulation by long-term holders.
• Analysts suggest ETH could hit $6,000–$8,000 if breakout confirms from monthly bull flag pattern.

Ethereum is showing fresh signs of strength as long-term holders quietly build their positions. In the past 48 hours, over 640,000 ETH has been transferred into wallets that have never been sold, according to CryptoQuant contributor OnChainSchool. 

That marks the largest inflow of its kind since 2018. Accumulation-only wallets, known for resisting market swings, a key measure of long-term conviction among Ethereum holders.

Their activity comes during a period of market cooling, with Ether’s price slipping slightly after reaching above $1,800. As of now, ETH stands at $1,787, reflecting a modest 1.29% daily gain. Meanwhile, trading volume has declined by 9% over the same span, settling at $15 billion. Despite these short-term fluctuations, the silent moves of patient investors reflects belief in Ether’s long-term prospects.

With Ethereum’s fundamentals evolving rapidly and the price under pressure, the silent hands might be signaling something the market is not yet pricing in,” OnChainSchool noted.

Ethereum Activity and Fundamentals Strengthen

Activity across the Ethereum network is also on the rise. More addresses are becoming active, and the number of transactions is growing. These signals suggest that while prices may not be surging, the ecosystem itself remains busy and engaged. Ethereum’s fundamentals are also evolving. With its transition to proof-of-stake and expanding adoption of Layer 2 solutions, technical advancements are quietly reinforcing the network.

The timing of the accumulation seems aligned with these technical milestones. As Ethereum’s staking mechanisms become more accessible and efficient, long-term believers may be building positions in anticipation of stronger fundamentals supporting future rallies.

Crypto analyst Ali Martinez highlighted another notable signal. Ether’s Entity-Adjusted Dormancy Flow has fallen below one million. Historically, this level often suggests the asset is undervalued. Dormancy Flow measures the activity of older coins, and a low reading usually points to quiet confidence among long-term holders.

Ethereum Could Hit $8K Target

Adding to the optimism, a trader Bitcoinsensus recently shared that Ethereum’s monthly chart shows a developing bull flag pattern. According to the analyst, ETH is hovering NEAR the lower boundary of the pattern, potentially setting up for a breakout. If confirmed, the breakout could send Ether as high as $8,000.

Veteran analyst TraderPA echoed similar thoughts, noting that Ethereum is currently in a reaccumulation phase. He believes that the cryptocurrency could potentially rise to $6,000 before the end of the year. This forecast aligns with broader expectations that the cryptocurrency will perform strongly into the second half of 2025.

Looking ahead, Some analysts even project that Ether could set a new all-time high before the end of 2025. If this accumulation phase continues and technical indicators remain favorable, a strong bullish trend may just be forming below the surface.

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