Ethereum is under pressure at press time, tumbling roughly 15% from March 2024. As sellers press on, reversing all gains posted from May 20, on-chain data points to a bullish picture. Ethereum HODLers Scoop 298,000 ETH In 24 Hours Taking to X, one analyst notes a spike in ETH demand, especially from permanent holders. Most…
Ethereum has seen a number of notable withdrawals that suggests that crypto whales are expecting a recovery in price. These large withdrawals has caused the ETH balances on centralized exchanges to fall to their lowest level since 2016. 336,000 ETH Withdrawn From Exchanges Crypto analyst Ash Crypto took to X (formerly Twitter) to reveal a…
Institutional investors have been accumulating Ethereum at a rapid pace after the SEC’s recent approval of Spot Ethereum ETFs. Crypto analyst Ali Martinez noted that this accumulation trend has created buying pressure that could be the much-needed catalyst for Ethereum to break above the $4,000 price mark. According to a social media post by Ali…
Asset manager VanEck recently revised its prediction for Ethereum (ETH), revealing what price it believes the second-largest crypto token could reach by 2030. The firm also did well to outline what could drive Ethereum’s price to this revised price. Ethereum To Reach $22,000 By 2030 In a recent blog post, VanEck predicted that Ethereum could…
Despite the relative tepid movement in the crypto market since Bitcoin hit a new all-time high (ATH) in March, Bitcoin, Ethereum, and Solana have continued to top traditional assets, including Gold. This was highlighted in a recent report that showed how crypto assets have provided the best returns for a while now. Bitcoin, Ethereum, And…
Recent data shows that the supply of Bitcoin (BTC) and Ethereum (ETH) on exchanges has dropped significantly. This means the largest crypto tokens by market cap could be well-primed for significant moves to the upside, with a supply squeeze imminent. Supply Of Bitcoin And Ethereum Drop To New Lows BTC ECHO analyst Leon Waidmann shared…
At spot rates, Ethereum prices have been edging lower, recently even retesting the immediate support at $3,700. Even though the coin is still hovering around this level, optimism is high that it will spike higher in the coming days. Ethereum Whales Are Now Accumulating Cementing this outlook, one analyst, citing on-chain events, notes that a…
Michael Nadeau, founder of The DeFi Report, has published a deep dive into the implications of the approval of spot Ethereum (ETH) Exchange-Traded Funds (ETFs) on the cryptocurrency’s price trajectory. This analysis follows on the heels of a significant regulatory nod from the US Securities and Exchange Commission (SEC), which approved the 19b-4 applications for…
A recent market report by research firm Kaiko noted how Grayscale’s Spot Ethereum ETF could have a negative impact on Ethereum’s (ETH) price. This is based on the firm’s expectations that Grayscale’s Ethereum Trust (ETHE) could follow a similar path to Grayscale’s Bitcoin Trust (GBTC). Ethereum Could Face Significant Selling Pressure From Grayscale’s Outflows Kaiko…
A crypto analyst has made a rather cryptic prediction, suggesting that the approval of Ethereum Spot ETFs by the United States Securities and Exchange Commission (SEC) could unleash a new wave of “animal spirits.” This term in crypto is often used to describe an irrational exuberance and optimism that fuels financial markets. Ethereum Spot ETF…