✨✨Is Ethereum Going Silent Bull? The Analysis Firm Revealed Its Bullish Signs! ✨✨
Cryptocurrency analysis firm CryptoQuant has published a comprehensive analysis of Ethereum's recent performance, drawing attention to some bullish signs in Ethereum despite falling behind Bitcoin's recent rally.
Bitcoin has shown significant growth following the US elections, even approaching all-time highs. However, Ethereum has struggled to maintain its momentum during this period. Despite this, CryptoQuant's analysis provides some fundamental data that suggests investors' confidence in Ethereum's long-term potential is increasing.
According to the analysis firm, Ethereum's Estimated Leverage Ratio is currently at its highest level, indicating that investors continue to use high leverage in derivatives transactions. This metric reflects investors' confidence in Ethereum's future performance, suggesting a continued risk appetite in the market. CryptoQuant also noted that Ethereum’s funding rates are moderately positive, indicating that long positions are still dominant without posing a major liquidation risk.
The Korea Premium Index, which measures the difference between Ethereum prices on South Korean exchanges and global markets, has recently turned positive with a significant premium. According to analysts, this trend is generally considered an indicator reflecting sentiment in Asian cryptocurrency markets and shows that South Korean investors are increasingly interested in Ethereum.
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