Ethereum

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A CryptoQuant Analyst has identified a significant systemic buying trend in Ethereum, suggesting a rising influx of strategic investments into the blockchain network.&nbsp; 
<h2 id="analyst-reveals-ethereum-systemic-buying-trend">Analyst Reveals Ethereum Systemic Buying Trend</h2> 
A crypto market observer and a contributing analyst at CryptoQuant, Maarten Regterschot has taken to <a href="https://x.com/ja_maartun/status/1727361184595398772?s=46" rel="nofollow">X</a> (formerly Twitter) to publish a systemic buying trend he witnessed in Ethereum. The analyst presented a chart indicating that one or more investors have been engaging in Time Weighted Average Price (TWAP) buying on <a href="https://bitcoinist.com/coinbase-permission-offer-bitcoin-ethereum-futures/" rel="nofollow">Ethereum futures.&nbsp;</a> 
Regterschot stated that the linear increase in <a href="https://bitcoinist.com/ethereum-active-addresses-spike-what-does-it-mean/" rel="nofollow">open interest in Ethereum</a>&nbsp;suggests that there has been systemic buying of ETH assets for an extended period of time. He revealed that approximately $700 million has already been added to the market.&nbsp; 
“Someone(s) are TWAP-buying on Ethereum futures. This linear growth in open interest indicates systematic buying over a certain period. There is $700 million added so far,” Regterschot said.&nbsp; 
Systemic buying in this context involves crypto investments made at regular and periodic intervals. TWAP on the other hand is the measure of an asset’s average price over a specific time period. 
This systemic buying trend suggests a growing demand for <a href="https://bitcoinist.com/whale-buys-5-5m-of-eth-will-ethereum-bulls-cruise-past-2100/" rel="nofollow">ETH</a> by investors over a long period. The trend also coincides with the latest Ethereum developments in the crypto space, including the <a href="https://www.newsbtc.com/news/ethereum/ethereum-spot-etf-blackrock/">growing applications on Ethereum Spot ETFs </a>and its potential approval by the United States Securities and Exchange Commission (SEC).&nbsp; 
The analyst has not revealed insights into the motives behind this systemic buying of Ethereum. However, the developments could become a catalyst for a potential <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-clears-hurdle-2020/">bullish momentum for Ethereum (ETH).</a> 
<h2 id="eth-price-holds-2000-mark">ETH Price Holds $2000 Mark</h2> 
<a href="https://bitcoinist.com/ethereum-blackrock-registers-trust-as-eth-tops-2000/" rel="nofollow">The price of Ethereum</a> has seen multiple upticks within the last few months, allowing the cryptocurrency to finally cross the $2,000 mark. According to CoinMarketCap, <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-recovery-trouble-2000/">Ethereum’s price</a> is up by 2.3% and trading at $2,062 at the time of writing. Although its overall market capitalization is down by 23.31%, the cryptocurrency has been experiencing a fair amount of price increases recently.&nbsp; 
As the potential approval of <a href="https://www.newsbtc.com/news/ethereum/ethereum-etf-race-gets-hotter/">Ethereum Spot ETFs by the US SEC</a> looms next year, many investors are currently holding their crypto assets as they gear up for a possible bull run. There have also been several optimistic <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-prediction-2120/">price projections for the ETH token. </a>Some analysts have predicted that the price of the cryptocurrency will reach $2,250 if it succeeds in crossing multiple resistance levels.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/ve3ZTLf2/" alt="Ethereum price chart from Tradingview.com (Crypto analyst)" width="2650" height="1530">

Analyst Says Ethereum Is Seeing ‘Systemic Buying’, What This Means

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