Ethereum (ETH) is poised to witness a potential rally, propelled by the rise in the number of hodlers. According to the data from Santiment, a crypto-market intelligence firm, the number of Ethereum addresses holding between 10,000 and 1,000,000 ETH reached a five-month high. This increase in ETH hodling indicates a bullish sentiment among investors, which could potentially trigger a price rally. As confidence in Ethereum’s growth continues to build, experts suggest a subsequent price surge may be on the horizon.
Positive sentiment surrounding Ethereum is not without basis. The upcoming Ethereum 2.0 upgrade, which aims to improve the scalability, security, and sustainability of the network, could be a significant factor influencing the upward trend in ETH hodling. Furthermore, the rise in DeFi and NFTs is driving the demand for Ethereum, thereby adding to the optimistic outlook. Thus, with the increase in hodling and the impending upgrades, Ethereum is set to rally, which bodes well for its price prospects.
