🪙 Why Ethereum will grow
1. The share of ether stored on exchanges has fallen below 11% by May 2024 (chart 1). This trend indicates a shift by investors to long-term storage and staking. In this situation, the volume of coins available for trading is declining, creating a supply shortage and easing selling pressure.
The approval of spot ETFs on Ethereum has increased the legitimacy of the asset in the eyes of investors and led to an outflow of coins from exchanges to cold wallets for long-term storage in anticipation of price growth.
2. The number of addresses storing at least $1 million in Ethereum is steadily increasing (Graph 2). This trend indicates the growing confidence of whales and institutional investors, which is also a good sign for the asset.
P.S.: personally, I am also betting on the growth of ether, and in this video I told you how to capitalize on the slightest fluctuations in its price with the help of a trading bot.
