A crypto analyst reported a significant 65% increase in Ethereum held in accumulation wallets since early 2024, noting that approximately $50.2 billion worth of Ether is now locked in these long-term investor addresses. As of October 18, 2024, the total amount surpassed 19 million ETH compared to about 11.5 million ETH at the beginning of the year. The increase reflects growing interest from both institutions and individual investors who view Ethereum as a critical part of the future financial landscape. The current price of Ether is around $2,645. The number of accumulation addresses is expected to exceed 20 million by the end of 2024, driven by rising demand, despite challenges such as significant net outflows from spot Ether ETFs since their launch. Concerns over Ether's future open interest have also been raised, suggesting potential price corrections due to increased leveraged positions in the market.

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