The number of Ethereum accumulation addresses has doubled since January 2024, with 19 million ETH now held in long-term addresses.
This surge indicates growing faith in Ethereum's future and is fueled by factors such as the approval of spot Ethereum exchange-traded funds (ETFs) by the US SEC.
Ethereum staking has also contributed to the decrease in available tokens for trading, leading to potential price growth and reduced volatility.
The current price of ETH is above $2,700, and the long-term outlook for Ethereum appears promising.