$ETH ๐๐
Ethereum Performance Analysis: Will the Rally Start Soon?๐
With Bitcoin's recent strong rise, many are wondering about the fate of Ethereum.
The second largest cryptocurrency. Historically, Ethereum often sees a significant surge once Bitcoinโs bull run ends, as profits from Bitcoin move into other assets, including Ethereum.
Ethereum Current Status: Mixed Signals๐ฅ๐ฅ
Despite the optimism, Ethereumโs performance indicators show some variability. Hereโs an analysis of the situation:
Based on network activity data:
New titles:
The number of new addresses on the Ethereum network is still lower compared to bull market periods.
Previous.
The main reason for this decline may be due to the increasing popularity of Layer 2 solutions (such as Base
However, these solutions still rely on Ethereum as the underlying settlement layer, which indicates that
To the continued importance of the network
Number of daily transactions:
Daily transactions increased slightly, to an average of 1.22 million transactions per day,
Compared to 1.1 million transactions three months ago.
Despite this improvement, this level is still lower than it was during the markets.
Former ascendant.
Transaction volume and whale accumulation:
The transaction volume is gradually increasing. Whales (large investors) continue to accumulate Ethereum, which reflects their confidence in the long-term performance of the network.
Forecast: Are we seeing a bull run soon?
If Bitcoin price stabilizes at its current high levels, Ethereum is likely to see a strong upward movement, especially with the weakening of selling pressure due to investor optimism about the price increase.
Conclusion:
Ethereum is showing mixed positive signals, with potential resistances that could fade in the bull market. As the
Bitcoin, Ethereum could be the next star in this market, so it is advisable to watch its movements carefully in the coming days.
