Ethereum

Foundation

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-climbs-past-3300-as-investors-reap-profits" rel="noopener noreferrer nofollow">Ethereum Climbs Past $3,300 as Investors Reap Profits</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ethereums-bullish-breakout-trader-tardigrade-forecasts-a-potential-surge-to-3200" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) has recently soared past the $3,300 mark, buoyed by <a href="https://en.bitcoinhaber.net/spot-bitcoin-etfs-set-record-trading-volumes" rel="noopener noreferrer nofollow">Bitcoin</a>‘s positive momentum. In a 24-hour period, ETH has recorded a substantial 1.33% increase, and a notable 12% upward shift over the past week, according to CoinMarketCap. This bullish trend has resulted in significant profitability for traders and investors within the Ethereum market.</p>
<h2 id="ethereum-traders-enjoy-profitable-streak">Ethereum Traders Enjoy Profitable Streak</h2>
<p style="text-align: justify">The surge in Ethereum’s value has ensured most market participants are profiting from their trades. <a href="https://en.bitcoinhaber.net/uk-introduces-new-regulations-for-tokenized-securities-in-digital-finance-space" rel="noopener noreferrer nofollow">Blockchain</a> analytics firm Santiment reports the on-chain profit to loss transaction ratio has hit a three-month peak, with profitable transactions outnumbering the losing ones at a rate of roughly 2.3 to 1.</p>
<p style="text-align: justify">Currently, over 93% of Ethereum’s total supply is in profit, a level last observed in August 2021, mere months before Ethereum reached its historical high. Additionally, the 30-day Market Value to Realized Value (MVRV) ratio indicates that, on average, ETH holders have gained over 20% on their investments.</p>
<h2 id="long-term-holders-gain-more-than-short-term-traders">Long-term Holders Gain More Than Short-term Traders</h2>
<p style="text-align: justify">An analysis of the MVRV Long/Short Difference reveals that long-term holders, often referred to as ‘diamond hands’, are achieving higher returns than short-term traders. This could suggest anticipation of surpassing previous all-time highs among this investor category.</p>
<p style="text-align: justify">Despite the optimistic trend, caution is advised due to the potential for a price correction. The supply of ETH on exchanges has decreased since the outset of 2024, while off-exchange supply has risen, possibly indicating an increase in selling pressure in the short term. Such price corrections could provide a strategic buying opportunity for investors.</p>
<p style="text-align: justify">As Ethereum enthusiasts remain hopeful for a long-term bull run, the much-anticipated Dencun upgrade is set to take place, aimed at reducing transaction fees on Layer-2 chains. The Ethereum Foundation confirmed the upgrade’s successful activation on test networks and has initiated preparations for its mainnet launch on March 13, amplifying the positive sentiment in the market.</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-past-3300-as-investors-reap-profits" rel="noopener noreferrer nofollow">Ethereum Climbs Past $3,300 as Investors Reap Profits</a></h5>

Ethereum Climbs Past $3,300 as Investors Reap Profits

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