Ethereum Demand Climbs As Monthly Transactions Hit New All-Time High
Ethereum has faced selling pressure and heightened volatility in recent days, testing the resolve of investors after setting fresh all-time highs last Sunday. Since then, ETH has retraced more than 11%, slipping back to key demand levels that could determine its short-term trajectory. The sharp pullback has introduced renewed uncertainty into the market, with traders debating whether this correction signals a pause before another rally or the beginning of deeper downside. Related Reading: Bitcoin Index Highlights Two Accumulations And Five Distribution Waves This Cycle – Details Despite....
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Ethereum also drew its bullish cues also from the anticipation of higher demand as its active supply runs dry.
The supply-demand factor is pushing Ethereum towards undiscovered heights. At least, that is what appears to be the case as the world’s second-largest cryptocurrency climbs to a new all-time high just as its active supply across all the major crypto exchanges declines. Data fetched by CryptoQuant, a South Korea-based blockchain analytics platform, elaborated it further, […]
Over the past few weeks, the price of Ethereum has been on a downward trend due to a highly volatile market environment. ETH’s bearish action appears to have hampered on-chain activities, as evidenced by a decline in its total transactions carried out within a monthly period. A Quiet Month For The Ethereum Network Ethereum’s on-chain […]
While the Ethereum community is getting prepared for The Merge and the protocol’s transition to a full proof-of-stake (PoS) system, the network’s hashrate reached an all-time high (ATH) on April 7, 2022. On Thursday, Ethereum’s hashrate reached a high of 1.131 petahash per second (PH/s), jumping 13% in 89 days.
Ethereum’s Hashrate Climbs 13% Higher Since the First Week of January
The Ethereum blockchain is expected to transition into a full proof-of-stake (PoS) network this year via The Merge. It’s unclear how smoothly that transition will go....
Ethereum extended its rise above the $465 resistance against the US Dollar. ETH price traded to a new monthly high near $477 and recently started a downside correction. Ethereum is still following a nice bullish path above the $450 and $455 support levels. The price traded to a new monthly high near $477 and settled […]