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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-climbs-to-top-annual-value-as-investors-hold-tight">Ethereum Climbs to Top Annual Value as Investors Hold Tight</a><br></p>
<p style="text-align: justify"> <a href="https://en.bitcoinhaber.net/bitcoin-stays-robust-as-ethereum-soars-to-record-annual-peak">Ethereum</a>‘s price soared to its highest point of the year, reaching $4,065 after a 3.5% rise over the past day. This surge coincides with <a href="https://en.bitcoinhaber.net/jpmorgan-report-suggests-grayscale-bitcoin-trust-gbtc-outflows-could-impact-bitcoin-price">Bitcoin</a>‘s impressive 4.4% increase, which recently saw it enter the $72,000 range. Over the past week, Ethereum’s value has appreciated by 16%, closely mirroring the 15% uptick seen by Bitcoin in the same timeframe. Enthusiasts attribute this growth to significant investors accumulating more Ethereum in anticipation of further price hikes. </p> 
<h2 id="investor-confidence-bolsters-ethereum-s-growth">Investor Confidence Bolsters Ethereum’s Growth</h2> 
<p style="text-align: justify"> Data indicates an uptrend in Ethereum holdings, specifically among major investors. Analytics from Santiment show a rise in the proportion of wallets holding substantial amounts of Ethereum — those containing 10 to 100 million units have grown from 27% to over 30% since the year’s start. Similarly, the segment holding 1 to 10 million has also spiked in the past five days. </p> 
<p style="text-align: justify"> Coinciding with investor accumulation, Ethereum deposits to exchanges have dwindled. Glassnode reports a marked decline in deposit transactions as Ethereum’s value first exceeded $3,200 and continued to fall as prices climbed past $3,500. This trend often signals a bullish market sentiment, as it suggests a reduced likelihood of imminent selling. </p> 
<p style="text-align: justify"> Supporting this view, large volumes of Ethereum are moving away from exchanges to private wallets, implying a preference for holding over trading. For instance, high-value transactions flagged by Whale Alert indicate significant amounts of Ethereum being transferred to unknown wallets from prominent exchanges like Bybit and Binance. </p> 
<h2 id="ethereum-supply-contraction-adds-to-demand">Ethereum Supply Contraction Adds to Demand</h2> 
<p style="text-align: justify"> The decreasing supply of Ethereum on exchanges isn’t the singular reason for its heightened demand. Reports from Ultrasound Money highlight a considerable quantity of Ethereum being burned over the last week, which effectively reduces the <a href="https://en.bitcoinhaber.net/three-altcoins-that-could-outperform-bitcoin-if-december-brings-positive-sentiment">cryptocurrency</a>‘s available supply and eases selling pressure. Additionally, a significant portion of Ethereum, amounting to more than 31.65 million units, has been staked in the Beacon Chain of its proof-of-stake layer, removing a large swath of the circulating supply from the market. This is complemented by the growth of liquid staking solutions like Lido, which now represents a sizable chunk of all staked Ethereum. As a result, the total value locked in such Ethereum liquidity solutions has skyrocketed, illustrating the increasing interest in Ethereum-based financial protocols.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-climbs-to-top-annual-value-as-investors-hold-tight">Ethereum Climbs to Top Annual Value as Investors Hold Tight</a></h5>

Ethereum Climbs to Top Annual Value as Investors Hold Tight

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