**Ether Accumulation Hits Record Highs**
Ether (ETH) accumulation is on the rise, with around $50.2 billion worth of ETH now locked in accumulation wallets. This is nearly double the amount held at the start of 2024, according to crypto analyst Burakkesmeci from CryptoQuant.
- **19 Million ETH Locked**: By October 18, 2024, accumulation addresses held over 19 million ETH, a 65% increase since January.
- **Spot Ether ETFs**: Launched in July, these ETFs have seen net outflows of $467.3 million.
- **Future Concerns**: Traders are wary as the Ether futures market hit 5 million ETH, potentially signaling a price correction.
Ethereum's growing institutional interest and future financial role are evident, but market dynamics remain complex.