Ethereum Accumulation Address to hit $20 M by the end of this year
2024-10-21

CryptoQuant, an on-chain and market data analytics provider has recently reported that the total number of accumulation addresses of Ethereum has gone over 19 million. On Friday, the report suggests that the overall number of Ethereum in accumulation addresses was double as compared to the beginning of this year. 
In January 2024, the data was 11.5 million. Also, it is speculated that by December 2024, it may go over 20 million. Future analysis of ETH
An analyst from the market analytics providing platform has mentioned that after the spot Ethereum exchange-traded funds (ETFs) got approved by the United States Securities and Exchange Commission, an immense expansion of Ethereum to the institutions as well as individuals took place. 
The analysis has also suggested that by December 2024, after the number of accumulation addresses of Ethereum surpasses 20 million, the worth of the same will be competing from the largest companies over the world. 
It is also speculated that the total worth of the holdings will surpass $80 million and the price of Ethereum will stand somewhere over $4,000. What does the holder’s data suggest? 
IntoTheBlock, a market intelligence platform, says that about 71% of the people who hold Ethereum are in profit. Also, 29% of them are going through losses and 1% shows no change and they are neutral. 
If we monitor the data closely, we get to know that more than 74% of ETH holders have not sold their holdings for over a year. 3% of them have sold it in less than 1 month. And, 23% of the holders have held it for more than 1 month and less than 1 year. 
At the press time, the price of Ethereum has gone up more than 3% in the past 24 hours. In the past one week, it has surpassed over 10% and currently it is trading at $2,728.58. 
Amid all these, the co-founder of Ethereum, Vitalik Buterin is tensed regarding the future of Ethereum. In order to safeguard the future and attain a smooth functioning he has planned to launch “Surge” update. Recently, he has addressed the centralization risk that comes with the proof-of-stake consensus mechanism of blockchain. In that post, he has outlined the approaches that the community can take to mitigate those risks. © Todayq News