A recent analysis reveals that the amount of Ether locked in accumulation wallets has surged to over $50 billion, marking a 65% increase since the beginning of 2024. The total Ethereum in accumulation addresses has surpassed 19 million, indicating growing confidence among long-term investors. With Ether trading at $2,645, the locked amount in accumulation addresses stands at approximately $50.2 billion. The rise in accumulation addresses is seen as a positive sign for the long-term outlook of Ethereum. The analyst predicts that the total ETH in these wallets will exceed 20 million by the end of 2024, driven by factors such as the launch of spot Ether ETFs. However, concerns arise as the aggregate Ether futures market hits a record high, potentially signaling a looming price correction. Read more AI-generated news on: https://app.chaingpt.org/news