Mass accumulation of Ethereum
The transition to ETH 2.0 is expected to take place during the third quarter of the year and will be gradual.
One of the most anticipated features on the market is the ability to earn rewards for your accumulated ETH tokens. The only requirement at the moment to keep 32 ETH. Therefore the number of wallets on the Ethereum network that have 32 ETH or more is approaching 120,000.
This means that we are witnessing a massive accumulation of ETH in wallets, by investors, with the aim of participating in the next feature of Ethereum 2.0.
Imminent increase in the price of ETH
The interesting thing about this cumulative ETH trend is that it could lead to considerable shortages in the market. And, consequently, to an increase in the price of the cryptocurrency.
The uptrend for the first time since mid-2018 may be about to confirm a golden cross pattern.
For those who do not know it, the indicator is widely used to observe the direction and strength of the trend. It is also used to check support, resistance, and buy or sell signals.
Possible centralization of ETH
Staking on Ethereum could cause it to centralize on crypto exchanges. However most of the new wallets with 32 ETH or more don't perish on crypto exchanges.
Although a significant proportion of the total ETH is in the hands of wallets belonging to crypto exchanges. Of the 105 million ETH held by the addresses of the '32 ETH Club ', at least 32 million ETH are in exchange wallets, in other words, 30%.
