Long-term Ethereum holdings surge 65% this year… “Long-term outlook, the meaning of trust”

Since the beginning of the year, the amount of Ethereum (ETH) held in accumulating cryptocurrency wallets has reportedly increased by 65%.
On the 20th (local time), Burakkesme, a contributor to on-chain analysis company CryptoQuant,
In an analysis note released on the same day, CI said, "The total amount of Ethereum in storage addresses will exceed 19 million by October 18, 2024," and "Ethereum is no longer just for technology enthusiasts."
According to analysts, currently, approximately $50.2 billion (approximately 7.5 trillion yen) worth of ETH is locked in the accumulation wallet, and by 2024
This is a 65% increase from the 11.5 million in January. Accumulation wallets are wallets held by long-term investors with no history of withdrawals.
Accumulation addresses are an important indicator for traders and market participants, as they provide insight into Ethereum’s long-term prospects.
Brakkesmech predicts that the total amount of Ethereum held in cumulative wallets will exceed 20 million by the end of 2024, and the main reasons for this are
He cited the expectations for the physical Ethereum exchange-traded fund (ETF) launched in July as a way to boost the value of the cryptocurrency. "It's no longer just for technology enthusiasts. I think institutions and individuals will be able to use it as a currency," he said.
"We see it as an important part of the future of fusion."