Ethereum

bullish

DeFi

Ethereum, the second-largest cryptocurrency by market capitalization, has started showing signs of a bullish trajectory. Particularly, according to <a href="https://twitter.com/CoinSignals_/status/1817787958491062393?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">insights</a> from CoinSignals, a prominent crypto analysis platform, Ethereum is poised for a significant price rally. 
The platform suggests that Ethereum could see its value rise to between $12,000 and $15,000 shortly. This forecast is based on<a href="https://www.newsbtc.com/analysis/eth/ethereum-to-match-bitcoin-strength/" target="_blank" rel="noopener "> positive market trends</a> and strong fundamental performance indicators supporting a sustained value increase. 
<h2 id="eth-fundamental-strengths">ETH Fundamental Strengths</h2> 
CoinSignals’ optimism is backed by several key factors that differentiate ETH from its peers, notably Bitcoin. Unlike Bitcoin, which experiences a sell-pressure of around 450 BTC daily, Ethereum, on the other hand, enjoys a much lower sell-pressure, according to CoinSignals. 
This lowered pressure is instrumental for Ethereum, resulting in more sustainable and <a href="https://www.newsbtc.com/news/ethereum/ethereum-whales-accumulate/" target="_blank" rel="noopener ">potentially explosive growth</a>. In addition, the platform points out that Ethereum is becoming more popular due to its significant participation in decentralized finance (DeFi) and real-world asset (RWA) tokenization. 
Perhaps the most bullish figure for Ethereum’s price growth comes from one of its strong indicators: ETH staked. According to data from <a href="https://www.coinbase.com/earn/staking/ethereum#:~:text=Today%2C%20the%20staking%20ratio%2C%20or,market%20cap%20of%20%24108.3B." target="_blank" rel="noopener nofollow">Coinbase</a>, roughly 27.65% of the total supply of Ethereum is currently staked. 
The past 24 hours alone saw a nearly 4% increase in staked tokens. Notably, not only does this staking activity indicate confidence in the future of Ethereum, but it also helps drive its deflationary economics even further by decreasing the available supply. 
<img loading="lazy" decoding="async" class="wp-image-632123 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=860&amp;resize=860%2C280" alt="Ethereum supply change since merge" width="860" height="280" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=2362 2362w, https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=860&amp;resize=860%2C280 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Screenshot-2024-07-29-at-16.44.01.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<a href="https://ultrasound.money/" target="_blank" rel="noopener nofollow">Data</a> from Ultrasoundmoney shows that since the ETH merge took place in September 2022, the available supply has plunged significantly, with nearly 300,000 ETH<a href="https://www.newsbtc.com/analysis/eth/ethereum-targets-recovery-3350/" target="_blank" rel="noopener "> erased from circulation</a>. 
Moreover, real-world asset tokenization – a sector sparking interest in numerous institutional investors – is still largely dominated by Ethereum, CoinSignals mentioned. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#ETH</a> Blow Off Top Target : $12k – $15k <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 – Almost 30% of Supply is Staked. – No Daily Selling Pressure like BTC (450 BTC Day) – Deflationary Asset. – All Narratives Born on ETH. – Leader of RWA and Tokenization. 
 Our Recent Avg Buying Price : $2900 <a href="https://t.co/S2HO3lrzR1" target="_blank" rel="noopener nofollow">pic.twitter.com/S2HO3lrzR1</a> 
 — Coin Signals (@CoinSignals_) <a href="https://twitter.com/CoinSignals_/status/1817787958491062393?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">July 29, 2024</a>
</blockquote> 
Major players, such as BlackRock, are expressing interest in the tokenization market, specifically those platforms that lead initiatives, such as Ethereum. 
The platform’s inherent capabilities make it an ideal foundation for DeFi projects and RWA initiatives experiencing rapid growth and innovation. 
<h2 data-pm-slice="1 1 []" id="ethereum-market-sentiment">Ethereum Market Sentiment</h2> 
In the past 24 hours, ETH has seen a mixture of bulls and bears in its price performance. Following a rise to $3,395 in the earlier hours of Monday, the asset faced a <a href="https://www.newsbtc.com/news/ethereum/eth-price-spot-ethereum-etfs/" target="_blank" rel="noopener ">noticeable retracement</a>, falling back to $3,253 before now stabilizing at $3,293, at the time of writing up by nearly 1%. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/JM9oePCy/" alt="Ethereum (ETH) price chart on TradingView" width="2770" height="1496"> 
Notably, not only is CoinSignals predicting a bullish future for ETH, but other notable analysts in the crypto community are also doing the same. 
For instance, prominent crypto investor Elja has recently <a href="https://twitter.com/Eljaboom/status/1815017898420707780?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">disclosed</a> on X that ETH trading above $10,000 is “programmed” already for this cycle. The investor added that buying ETH at <a href="https://www.newsbtc.com/news/ethereum/ethereum-open-interest-rises-by-1-5-billion-what-this-means/" target="_blank" rel="noopener ">current market prices</a> is like buying it at $400 in 2020. 
<blockquote class="twitter-tweet"> 
 Buying <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#Ethereum</a> now is like 
 – Buying it at $400 in 2020 
 With <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$ETH</a> ETF trading starting tomorrow, $10,000+ is programmed this cycle! <a href="https://t.co/Mq4CzNGonO" target="_blank" rel="noopener nofollow">pic.twitter.com/Mq4CzNGonO</a> 
 — Elja (@Eljaboom) <a href="https://twitter.com/Eljaboom/status/1815017898420707780?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">July 21, 2024</a>
</blockquote> 
Featured image created with DALL-E, Chart from TradingView

Ethereum’s Breakout Moment: Here’s Why ETH Could Skyrocket to $15,000 Soon

목차

NewsBTC

2024년 7월 30일에 게재된 다른 기사

HashKey Global Expands Crypto Derivatives Offerings with New Perpetual Contracts

Minimal Bitcoin On-Chain Resistance Ahead: Price Set For New ATH?

OKX Introduces Pre-Market Futures for Early-Stage Crypto Tokens

El Salvador’s Secret Weapon Against US Sanctions Revealed: It’s Not What You Think!

SHIB Metric Jumps 7334% Ahead of Key Update

Crypto And NFT Gaming Platform Gala Games Launches Its GalaChain TestNet

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!