The accumulation of Ethereum has been on the rise recently, with 70% of holders currently in a profitable position. This is a positive sign for the price of ETH. As more holders are in profit, it indicates that there is strong demand for the cryptocurrency.
This increase in accumulation could lead to a potential price increase for Ethereum in the near future. When a large percentage of holders are in profit, it typically indicates that there is a bullish sentiment in the market. This could attract more investors and traders, further driving up the price of ETH.
Overall, the high percentage of profitable holders is a positive indicator for the price of Ethereum. It suggests that there is strong support and belief in the cryptocurrency, which could lead to further price appreciation in the coming days.