Ethereum network growth has hit a 4-year high on Sunday, confirmed Santiment.
There is an increased chance of the digital asset breaking from the $2.2K-$2.3K level.
ETH ETFs fail to bring the necessary capital for a bullish outbreak in Ether’s price.
Ethereum’s network is flourishing, reaching a four-year high in growth even as ETH, its native token, struggles around the $2,200 mark. This surge in network activity, particularly during a period of price decline, hints at a potential price reversal according to on-chain analytics firm Santiment.
Ethereum has just hit a 4-month high in network growth, on a day (Sunday) that is traditionally the least active of the week. 126,210 new wallets created is indicative of rising network utility and anticipated price bounces from the $2,200-$2,300 level. pic.twitter.com/zQaKbBdznK
— Santiment (@santimentfeed) September 9, 2024
Santiment’s data reveals a remarkable increase in new Ethereum wallets, reaching the four-month high of 126,210. This suggests growing network utility and sets the stage for possible price rebounds from the $2,200-$2,300 level. The timing of this surge, occurring on a typically quiet Sunday,…
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