The Rise of Ethereum Accumulation Addresses
A significant amount of Ethereum is currently held by entities not actively spending or moving their funds. The latest data from CryptoQuant reveals that the total number of Ethereum in accumulation addresses has surged past 19 million. This marks a substantial increase since January 2024, when the metric stood at 11.5 million.
Analysts predict that this number could exceed 20 million by the year-end, signifying a robust accumulation trend among investors.
Implications for Market Value
With the rise of Ethereum accumulation addresses, the total value of these holdings is expected to reach $80 billion. This would place the value of Ethereum accumulation addresses on par with that of the world’s largest companies. The price of Ethereum is projected to be around $4,000 as the address holdings hit 20 million ETH.
Profitability and Holder Composition
Current data indicates that 71% of Ethereum holders are in profit, while 29% are in loss. A closer look at the holder composition reveals that over 74% have held their coins for over a year, highlighting strong investor confidence in Ethereum’s long-term potential.
Price Movement and Outlook
Over the past 24 hours, Ethereum’s price has surged by over 2%, reaching above $2,700. In the last seven days, the price has increased by over 10%, showing a bullish trend in the market.
