Ethereum

Million

Spot

<p>On-chain data from CryptoQuant analyst Burakkesmeci shows that Ethereum (ETH) accumulation addresses now hold over 19 million ETH as of October 18, 2024. This is a significant 65% increase since the beginning of the year, highlighting growing interest from both individual and institutional investors. Once popular mostly with tech enthusiasts, Ethereum is now becoming a mainstream investment choice.</p>   
<p>What's driving this trend? Where could this development lead to <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum's price</a> in the months ahead? Read on.</p>   
<h2 class="wp-block-heading" id="h-ethereum-holdings-grow">Ethereum Holdings Grow </h2>   
<p>According to Burakkesmeci’s analysis, the amount of Ethereum in accumulation addresses has steadily risen throughout 2024. At the start of the year, these wallets held 11.5 million ETH.</p>   
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<p>By mid-October, that number had jumped to 19 million, showing more investors are choosing to hold onto their Ethereum, reflecting increased confidence in its long-term potential.</p>   
<p><strong>Ethereum ETFs Drive Demand</strong></p>   
<p>A key reason for this surge is the <a href="https://coinpedia.org/news/ethereum-etfs-debut-with-record-1-billion-trading-volume/" target="_blank" rel="noreferrer noopener">approval of Ethereum Spot ETFs</a> earlier this year. These ETFs have made Ethereum more accessible to large investors, boosting trust in the asset. With clearer regulations, Ethereum is now seen as a more reliable investment, appealing not just to crypto enthusiasts but to mainstream investors as well.</p>   
<h2 class="wp-block-heading" id="h-eth-holdings-set-to-surpass-20-million">ETH Holdings Set to Surpass 20 Million</h2>   
<p>Burakkesmeci predicts that the amount of ETH in accumulation addresses could exceed 20 million by the end of 2024. If <a href="https://coinpedia.org/news/why-ethereum-price-is-up-today-key-factors-driving-the-eth-surge/" target="_blank" rel="noreferrer noopener">Ethereum’s price </a>hits the expected $4,000 by year’s end, these wallets would hold over $80 billion in value, putting them on par with some of the world’s largest companies.</p>   [post_titles_links postid="369801"]   
<h2 class="wp-block-heading" id="h-long-term-outlook-remains-bullish">Long-Term Outlook Remains Bullish </h2>   
<p>At the moment, Ethereum is trading below $2,680 and facing resistance at $2,665, near the key $2,700 level. This resistance coincides with the 50% retracement level from its recent drop between $2,757 and $2,626. Despite these short-term hurdles, analysts remain hopeful.</p>   
<p>They believe that continued accumulation could push Ethereum’s price to $4,000 by the end of the year, reflecting strong confidence in its future potential.</p>   
<p><strong>Let's discuss: Is Ethereum's recent growth sustainable?</strong></p>

Why Ethereum Price Could Hit $4000 Amid 19M Accumulation Wallet Boom

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