Recent insights from COINOTAG highlight a significant trend in the Ethereum (ETH) ecosystem. As of October 18, 2024, over 19 million accumulation addresses were reported to be holding Ethereum, as per an analysis by CryptoQuant contributor Burakkesmeci. This surge in addresses indicates a growing interest and confidence among investors in the digital asset market. Burakkesmeci projects that by year-end, this number will surpass 20 million, potentially pushing the cumulative ETH value to around $80 billion if prices stabilize at about $4,000 per coin. This valuation would place Ethereum in competition with some of the largest corporations globally, showcasing its increasing significance in the cryptocurrency market. Investors and market analysts should closely monitor these metrics, as they reflect broader adoption trends and may influence future price trajectories.
Source: https://en.coinotag.com/breakingnews/ethereum-accumulation-addresses-surpass-19-million-projected-price-to-reach-4000-by-year-end/