Important development in Ethereum (ETH): Holders are increasing!

Since the beginning of 2024, assets in Ethereum ($ETH ) savings wallets have increased by 65 percent, reaching 19 million ETH.

At the current ETH price, this amount corresponds to $50.2 billion. Analyst Burak Kesmeci predicts that savings, which were 11.5 million ETH in January, could exceed 20 million $ETH by the end of the year. Altcoin investors were naturally excited with this development in Ethereum.

The analyst stated that the spot Ether ETFs launched in July encouraged this growth, emphasizing that Ethereum is now seen as an important part of the financial future, not just for technology enthusiasts.

On the other hand, there are also warnings that the increase in leveraged positions could lead to price corrections. Spot Ether ETFs have recorded a total net outflow of $467.3 million since July 23. At the same time, Ethereum founder Vitalik Buterin made suggestions to improve transaction times to alleviate concerns about increasing supply despite network usage.

Ethereum, which is currently weaker than Bitcoin, may please altcoin investors with positive data from spot ETFs or a decline in Bitcoin dominance. The $3000 band will be critical for ETH. Exceeding $3000, which is a difficult level both psychologically and technically, may bring altcoin bulls. Weekly closes above $3000 may increase the strength of the rise.

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