Ethereum Breakthrough Key

Recently, an investor who obtained a large amount of ETH during the Ethereum ICO suddenly deposited ETH worth up to US$9.12 million to the Kraken trading platform after being silent for more than two years. This move not only demonstrated the holders' firm belief in the long-term value of Ethereum, but also triggered extensive market discussion on the future trend of Ethereum. The market generally believes that such "whale" behavior can often drive market sentiment and become an important force driving price increases.

Meanwhile, Ethereum’s transaction volume has seen a staggering 79.30% growth over the past 24 hours, reaching a high of $28.21 billion. A surge in trading volume is usually seen as an important sign of increased market activity, indicating that more funds are pouring into the market to seek trading opportunities. This is certainly a positive sign for Ethereum, indicating that investors are optimistic about its prospects and are willing to invest more funds in trading.

In terms of on-chain data, Ethereum’s performance appears more complicated. Net network growth remained neutral at 0.19%, indicating that new user growth did not accelerate significantly. Despite this, the In the Money indicator shows that 11.21% of investors are currently in profit, which helps to ease the selling pressure in the market and provide support for price stability. In addition, indicators such as concentration and large trades also show a neutral trend, indicating that whales are not experiencing significant changes in accumulation.

Judging from market sentiment, in the battle between bulls and bears, bulls have a slight upper hand. As of the latest data, 52.28% of traders hold long positions, while 47.72% choose to short the market. This slim majority suggests that, despite the market’s divergence, investors overall are optimistic about Ethereum’s future. If this trend continues, Ethereum is expected to further consolidate its upward momentum.

The future trend of Ethereum will be affected by multiple factors such as whale activity, changes in trading volume, and market sentiment. Although the on-chain data presents certain complexities, the restart of whale activity and the surge in transaction volume undoubtedly provide strong support for Ethereum’s rise.

If you are interested in the currency circle but don’t know how to start, you may wish to follow me. I need fans and you need reference. #ETH走势分析