The second-largest crypto by market capitalization holds its position firm against its hurricane-like hurdles. While the network desperately awaits an upgrade. The rate of adoption and transactions strain little to none.
On-chain data suggests a steady rise in the network. Meanwhile, the supply rate of Ethereum has been on a constant decline, despite its unlimited supply. Which is ever since the network’s upgrade to EIP-1559.
Ethereum’s Surf Over High Tides!
The leader of altcoins is regaining its pace, the digital asset has been under the rip currents for a brief time. However, the fourth quarter has been generous to the space, which has helped Ethereum and several other coins surf above the odds. Consecutively, the ETH price has been on a steady rise in recent times. And the network is breaking through the barriers, claiming newer accomplishments.
On-chain data of Ethereum has been impressive to all the ETH holders. As the network leaps over previous highs. The Q3 of Coinbase shows big money is favoring Ethereum over Bitcoin. While Bitcoin gets 19%, Ethereum gets 22%. Meanwhile, the number of addresses holding 0.1+ coins peaks an ATH. The daily on-chain exchange flow of ETH sees an influx of $882.2 M and an outflow of $1.2 B. Meanwhile, the net flow is negative by $289.1 M.
Likewise, the hash rate, mining difficulty, amount of supply last active for 3y-5y, Ethereum futures contracts have hit peaks. In addition, the burn rate at press time is 844,162 ETH. The supply squeeze has been more evident since EIP-1559. The staking contract hit over 8.2 M ETH, and 8M+ ETH is locked in De-Fi. Since October 1st more than 860k ETH left centralized exchanges, decreasing the supply count.
Cryptoproponent mentions that ETH supply doesn’t increase anymore, and the rate of change is almost zero post-London hard-fork. He further relates Ethereum’s supply to be scarce as Bitcoin.
Traders Look Out for These Crucial Zones!
ETH at press time is trading at $4714.87, with its market cap around $558,373,410,352. The trading volume around the clock is at about $26,082,500,731. Traders are optimistic of ETH price inching closer to $5,000. Michael van de Poppe gives out crucial zones to hold at $4,600 to $4,650.
On the other hand, another analyst believes the current ETH dominance of 20%, to below, and expects the dominance to rise to 30%. While ascending triangle is in the making. From previous movements, when the dominance of Ethereum was at 31.17%, on the 19th of June 2017. That of Bitcoin was at 37.84%.
Collectively, we can expect the start of the altseason, as the dominance of Ethereum grows. Whilst Bitcoin’s dominance subsides. Netizens are looking forward to ETH hitting $10,000 this Q4. On the contrary, the much-awaited ETH 2.0, holds the potential to resolve the current shortcomings. Which might accompany the network in near future.
The second-largest crypto by market capitalization holds its position firm against its hurricane-like hurdles. While the network desperately awaits an upgrade. The rate of adoption and transactions strain little to none.
On-chain data suggests a steady rise in the network. Meanwhile, the supply rate of Ethereum has been on a constant decline, despite its unlimited supply. Which is ever since the network’s upgrade to EIP-1559.
Ethereum’s Surf Over High Tides!
The leader of altcoins is regaining its pace, the digital asset has been under the rip currents for a brief time. However, the fourth quarter has been generous to the space, which has helped Ethereum and several other coins surf above the odds. Consecutively, the ETH price has been on a steady rise in recent times. And the network is breaking through the barriers, claiming newer accomplishments.
On-chain data of Ethereum has been impressive to all the ETH holders. As the network leaps over previous highs. The Q3 of Coinbase shows big money is favouring Ethereum over Bitcoin. While Bitcoin gets 19%, Ethereum gets 22%. Meanwhile, the number of addresses holding 0.1+ coins peaks an ATH. The daily on-chain exchange flow of ETH sees an influx of $882.2 M and an outflow of $1.2 B. Meanwhile, the net flow is negative by $289.1 M.
Likewise, the hash rate, mining difficulty, amount of supply last active for 3y-5y, Ethereum futures contracts have hit peaks. In addition, the burn rate at press time is 844,162 ETH. The supply squeeze has been more evident since EIP-1559. The staking contract hit over 8.2 M ETH, and 8M+ ETH is locked in De-Fi. Since October 1st more than 860k ETH left centralized exchanges, decreasing the supply count.
Cryptoproponent mentions that ETH supply doesn’t increase anymore, and the rate of change is almost zero post-london hard-fork. He further relates Ethereum’s supply to be scarce as Bitcoin.
Traders Look Out for These Crucial Zones!
ETH at press time is trading at $4714.87, with its market cap around $558,373,410,352. The trading volume around the clock is at about $26,082,500,731. Traders are optimistic of ETH price inching closer to $5,000. Michael van de Poppe gives out crucial zones to hold at $4,600 to $4,650.
On the other hand, another analyst believes the current ETH dominance of 20%, to below, and expects the dominance to rise to 30%. While ascending triangle is in the making. From previous movements, when the dominance of Ethereum was at 31.17%, on the 19th of June 2017. That of Bitcoin was at 37.84%.
Collectively, we can expect the start of the altseason, as the dominance of Ethereum grows. Whilst Bitcoin’s dominance subsides. Netizens are looking forward to ETH hitting $10,000 this Q4. On the contrary, the much-awaited ETH 2.0, holds the potential to resolve the current shortcomings. Which might accompany the network in near future.
