Long-term holders of Ethereum (ETH) have demonstrated unwavering conviction in 2024, with their collective holdings steadily increasing. Currently, around 110 million ETH is held by these long-term investors, marking a significant rise in their stake over the past two years. Social sentiment surrounding Ethereum has turned notably negative, reaching its lowest point since December 18, 2023—traditionally seen as a bullish signal. In fact, Ethereum surged by 30% in price when sentiment was at its lowest during that period, providing a potential indicator for future growth. According to the latest Ethereum Hodler Report from @intotheblock, long-term ETH holders have accumulated approximately
The post Ethereum Shows Strong Conviction As Long-Term Holders Ramp Up Accumulation appeared first on The Merkle News.