The amount of Ethereum in accumulation addresses has reached 19 million, reflecting growing investor interest.
Growth of Ethereum Since the Start of the Year
According to Burakkesmeci's analysis, the amount of Ethereum in accumulation wallets has been steadily growing throughout 2024. At the start of the year, these wallets held 11.5 million ETH, but that number surged to 19 million by mid-October.
Projections by End of 2024
Burakkesmeci projects that the amount of Ethereum in accumulation wallets will exceed 20 million by the end of 2024. With Ethereum's price expected to reach around $4,000, the total value of these addresses could surpass $80 billion.
Long-Term Bullishness: ETH Price
Ethereum is currently trading below $2,680. Analysts predict that as more investors accumulate Ethereum, the price could reach $4,000 by the end of the year, indicating strong long-term confidence in its potential.
The increasing amount of Ethereum in accumulation addresses indicates a stronger interest in this asset from both individual and institutional investors.