Anothet key points about $ETH
⚪ Signs of Upside Potential: The ratio of network valuation to trading volume has steadily decreased in recent months, which could imply that the token’s value is currently undervalued. This, in turn, suggests potential for significant growth.
⚪ Derivatives Market and Market Sentiment: Despite price increases, the derivatives market did not respond strongly. However, a shift in market sentiment from neutral to greed could lead to more ETH purchases in the coming days.
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Activity Surge in Ethereum (ETH) Network: After a rapid decline on January 22nd, Ethereum, the leading smart contract platform in the cryptocurrency markets, has shown a positive recovery. Here are some key points:
1. Increasing Address Numbers: The Ethereum network creates approximately 101,000 new addresses every day. The daily rate of new address creation is 28% faster compared to three months ago. This indicates promising network growth.
2. Rising Transaction Count: The number of transactions on the network increased by 10% during the week. This suggests that Ethereum’s market value is built on the foundation of growing network utility.
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