✨Ethereum (ETH) Price Rises to $2,600, But Risks Are Troubling

Ethereum ETH USD has surpassed $2,500 for the first time since October 1. However, despite the market optimism, this upward trend may not be as smooth as it seems.

In this analysis, BeInCrypto highlights several on-chain indicators that suggest that a large part of ETH's gains may be restrained.

🪐 Ethereum Still Has Problems

The price of Ethereum has risen by 6% in the past 30 days. The cryptocurrency's trading volume has increased by 90% in the past 24 hours, indicating that investors are increasingly interested in Ethereum.

Despite this, data from IntoTheBlock shows that Ethereum's token holding time has decreased by 56% in the past seven days. Token holding time shows how long investors hold cryptocurrencies without selling.

Generally, the longer the holding time, the more likely the price will rise, while the shorter the holding time, usually means that the price may fall. In the case of Ethereum, the recent decrease in holding time suggests that ETH holders are still selling despite the recent price increase.