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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-potential-rise-despite-current-dip/" data-wpel-link="internal">Ethereum’s Potential Rise Despite Current Dip</a><br></p>
<p style="text-align: justify"><strong>Ethereum (ETH)</strong> may currently be experiencing a significant drop, but on-chain data indicates a potential price increase in the short to medium term. According to on-chain market analyst Ali Martinez, Ethereum currently has no significant barrier ahead, based on the In/Out of the Money indicator by crypto analysis platform IntoTheBlock.</p> 
<h2 id="the-current-state-of-ethereum-holders">The Current State of Ethereum Holders</h2> 
<p style="text-align: justify">Data shows that a total of 7.82 million addresses, or 65.4% of all wallets on the network, are currently in profit. This is compared to 4.13 million addresses, or 34.5%, that are at a loss or not profitable. Ethereum holders at the break-even point only constitute about 12,430 of the total wallets, or 0.10%.</p> 
<p style="text-align: justify">According to Ali Martinez, since there is no visible supply barrier, Ethereum could potentially rise to $2,700 in the short term, a level beyond the $2,500 projection. If this achievement is reached, ETH could retest the price levels last seen in early May 2022. Although this price prediction is ambitious, it could be a significant deviation from current reality.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-296761 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/martinez.jpg" alt="" width="2352" height="860"></p> 
<h2 id="developments-on-the-smart-contract-platform">Developments on the Smart Contract Platform</h2> 
<p style="text-align: justify">At the time of writing, Ethereum is trying to recover from minor losses accrued since the new year, trading at $2,310.95 with a 0.28% increase over the last 24 hours. Over the past week, Ethereum has maintained a slight upward trend with a 1.12% increase. Ethereum may face existential threats from significant competitors including Solana (SOL), XRP Ledger, <a href="https://en.coin-turk.com/the-remarkable-ascent-of-avalanche-avax-surges-beyond-expectations/" data-wpel-link="internal">Avalanche</a> (AVAX), and Cardano (<a href="https://en.coin-turk.com/ada-coin-analysis-price-drops-and-future-expectations/" data-wpel-link="internal">ADA</a>).</p> 
<p style="text-align: justify">Although Ethereum’s growth is relatively weak compared to these alternatives, Solana has expanded its impact on Ethereum with a noticeable reversal in DEX volumes and other core areas. Additionally, Solana has recorded a more bullish price movement compared to last year, with SOL rising up to 989%, while Ethereum only managed a 94.16% gain last year. Other chains like Cardano and XRPL are also making innovations that prove they are fully ready to develop in the coming months.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereums-potential-rise-despite-current-dip/" data-wpel-link="internal">Ethereum’s Potential Rise Despite Current Dip</a></h5>

Ethereum’s Potential Rise Despite Current Dip

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