Analysis: Ethereum network has accumulated over 19 million Ether in the Address, a rise of 65% compared to the beginning of the year

Odaily Planet Daily News, CryptoQuant contributor Burakkesmeci stated: “As of October 18, 2024, the accumulated ETH holdings in Ethereum addresses have exceeded 19 million coins.” By January 2024, these Addresses will only have 11.5 million ETH, which has now almost doubled. I believe the total will exceed 20 million by the end of the year. What is the reason for the accumulation of these Addresses? In early 2024, Ethereum Spot ETF was officially approved, marking the arrival of a new era. The strengthened regulation has increased confidence in Ethereum, making it mainstream. It is no longer just the patent of technology enthusiasts - institutions and individuals alike see it as a key part of the future of finance. By the end of this year, these Addresses are expected to hold over 20 million ETH. At that time, the price of Ethereum is about $4000, and the total value will exceed 80 billion US dollars, comparable to the Market Cap of some of the world’s largest companies.