Rally

Optimism

Spot

While the leading cryptocurrency Bitcoin (BTC) reaches a new ATH every day, the largest altcoin Ethereum also rose above $4,000 in this rally. 
Ethereum, which successfully completed the highly anticipated Dencun upgrade yesterday, continues to attract the attention of investors with its strong stance. 
At this point, CryptoQuant analyst also stated that ETH showed signs of strength and said that the reason behind this was the decrease in reserves in spot exchanges and the desire of investors to stake ETH. 
Stating that ETH spot exchange reserves are in a constant decreasing trend, the analyst said that this decrease means that there is not much selling pressure on ETH. 
According to the analyst, if this steep downward trend in ETH reserves continues, the price may rise further. 
<blockquote> 
 “Ether's net flows and reserves on spot exchanges after the FTX crash revealed a strong behavioral pattern among ETH investors that has since revealed a strong belief in Ethereum's future recovery. 
 The chart clearly reveals that Ethereum's spot reserve on the entire exchange is constantly trending downward due to large outflows, and the total staked value of Ethereum is increasing. 
 The decline in exchange reserves and continued commitment to staking demonstrates an understanding of Ethereum's intrinsic value and a strong belief in the asset's staking fundamentals. 
 The decrease in foreign exchange reserves means that there is not much selling pressure in the Ethereum market. 
 If this steep downward trend in ETH reserves continues, the price may rise further. “ 
</blockquote> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/will-the-eth-rally-continue-as-spot-ethereum-etf-optimism-diminishes-cryptoquant-analyst-evaluated/">Will the ETH Rally Continue as Spot Ethereum ETF Optimism Diminishes? CryptoQuant Analyst Evaluated!</a>

Will the ETH Rally Continue as Spot Ethereum ETF Optimism Diminishes? CryptoQuant Analyst Evaluated!

Bitcoin Sistemi EN

2024년 3월 14일에 게재된 다른 기사

Ripple Unveils Major Update for XRP Ledger's Decentralized ID Shift

MicroStrategy Announces $500 Million Convertible Senior Notes Offering to Acquire More Bitcoins!

Bitcoin Proves Skeptics Wrong with Significant Price Surge

Franklin Templeton Releases Memecoin Investor Note With Tesla’s Potential Dogecoin Adoption

VanEck’s Move with Spot Bitcoin ETF Boosts Investor Demand!

DeeStream (DST) Takes Center Stage: Avalanche (AVAX) and Tether (USDT) Collaborate for Groundbrea...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!