🪙 Why will Ethereum grow?
1. The share of ether held on exchanges fell below 11% by May 2024. This trend indicates a shift by investors to long-term storage and staking. In this situation, the volume of coins available for trading decreases, creating a supply shortage and weakening selling pressure.
The approval of spot ETFs on Ethereum 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 a price increase.
2. The number of addresses holding at least $1 million in Ethereum is constantly increasing. This trend indicates growing confidence among whales and institutional investors, which is also a good sign for the asset.
