According to recent data from CryptoQuant, there is a significant amount of Ethereum (ETH) being held by entities that are not actively spending or moving their funds. The total number of ETH in accumulation addresses has surpassed 19 million, almost doubling compared to January 2024. One analyst predicts that this number will exceed 20 million by the end of the year. The approval of spot Ethereum exchange-traded funds (ETFs) by the Securities and Exchange Commission in early 2024 has boosted confidence and made Ethereum more mainstream. By the end of the year, when the address holdings reach 20 million ETH, their value is expected to be as big as that of the world's largest companies, totaling around $80 billion with an Ethereum price of $4,000. Data from IntoTheBlock shows that 71% of Ethereum holders are currently in profit, with 29% in loss and 1% in neutral. The majority of ETH holders have held their coins for over a year. The price of Ethereum has seen a 2% surge in the last 24 hours and is up by over 10% in the past week, reaching the $2,700 level.



Other News from Today