{"id":597063,"date":"2024-03-09T09:53:26","date_gmt":"2024-03-09T09:53:26","guid":{"rendered":"https:\/\/uniquehot.com\/?p=597063"},"modified":"2024-03-09T09:54:10","modified_gmt":"2024-03-09T09:54:10","slug":"ethereum-wallets-overflow-over-90-addresses-in-profit-ether-to-retest-ath","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-wallets-overflow-over-90-addresses-in-profit-ether-to-retest-ath\/","title":{"rendered":"Ethereum Wallets Overflow: Over 90% Addresses In Profit, Ether To Retest ATH"},"content":{"rendered":"

Cryptocurrency enthusiasts are celebrating a bullish weekend for Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization. With a price surge of 4.31% in the last day, ETH is inching closer to a critical resistance point: $4,000. This climb comes amidst a wave of optimism surrounding the Ethereum network, fueled by a confluence of factors.<\/p>\n

Related Reading: Bitcoin Bulls On Alert: Top Analyst Anticipates A Big Spike In The Cards<\/a><\/div>\n

Ethereum Whale Activity, On-Chain Buying Signal Potential Rally<\/strong><\/h2>\n

Market analysts are attributing the recent surge to a significant rise in Ethereum<\/a> accumulation. According to data from blockchain tracking company Spot On Chain, wallets linked to PulseChain and PulseX have been aggressively buying ETH, accumulating a staggering 163,295 ETH in just four days. This substantial buying pressure, totaling nearly $621 million DAI, suggests a strong foundation for a potential price increase.<\/p>\n

Furthermore, more than $10 billion whale trade volume recorded overnight indicates a shift in sentiment among major investors. This hefty trade volume is seen as a bullish signal, suggesting that whales are accumulating ETH in anticipation of a price upswing.<\/p>\n

\"\"<\/p>\n

Ethereum Investors Buoyed By Profitability, Approaching ATH<\/strong><\/h2>\n

Adding fuel to the fire, over 94% of ETH addresses are currently in profit. This translates to a significant number of investors holding onto their ETH, creating low selling pressure and potentially paving the way for a price increase.<\/p>\n

Data from IntoTheBlock (ITB), a cryptocurrency analytics platform, indicates that at this point, ETH is at its best level in nearly a year,<\/a> but it is clearly trailing the upward trend that Bitcoin experienced once its spot Exchange-Traded Fund obtained approval.<\/p>\n

\"\"Source: IntoTheBlock<\/pre>\n
Moreover, the excitement surrounding Ethereum is palpable as the price approaches its all-time high (ATH) of $4,890. With minimal resistance anticipated, a retest of the ATH seems like a realistic possibility in the near future. This prospect is further amplified by the dwindling number of addresses holding ETH at a break-even point or at a loss.<\/p>\n
Dencum Upgrade And ETF Speculation Stoke Investor Confidence<\/strong><\/h3>\n
Beyond the immediate price action, the Ethereum community is buzzing with anticipation about the upcoming Dencum upgrade<\/a>. This highly anticipated upgrade is designed to address scalability issues, reduce transaction fees on layer networks, and decongest the Ethereum network.<\/p>\n
A successful Dencum upgrade is expected to significantly improve the overall user experience and potentially attract new investors, bolstering confidence in the long-term viability of the Ethereum network.<\/p>\n
<\/p>\n
Total crypto market cap is currently at $2.5 trillion. Chart: TradingView<\/a><\/pre>\n
Adding another layer of optimism is the ongoing speculation surrounding a potential Ethereum ETF. While regulatory approval from the SEC is still pending, the very possibility of an ETF has buoyed investor sentiment. An ETF would allow traditional investors to gain exposure to Ethereum without the complexities of directly owning and managing cryptocurrency, potentially leading to a wider investor base and increased demand for ETH.<\/p>\n
\"\"<\/p>\n
A Look Ahead: Ether Trajectory Hinges On Multiple Factors<\/strong><\/h3>\n
While the outlook for Ethereum appears bright, there are still factors to consider. The price of ETH remains roughly $1,000 shy of its ATH, and the success of the Dencum upgrade and the approval of an Ethereum ETF are not guaranteed. As with any investment, conducting thorough research and maintaining a cautious approach is crucial.<\/p>\n
Related Reading: Don\u2019t Miss Out: XRP Bull Flag Signals Explosive Price Movement<\/a><\/div>\n
However, the confluence of rising on-chain activity, whale accumulation, and a profitable investor base paints a promising picture for Ethereum. With the Dencum upgrade on the horizon and the possibility of an ETF, Ethereum appears poised for a potential price rally in the coming months.<\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Cryptocurrency enthusiasts are celebrating a bullish weekend for Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization. With a price surge of 4.31% in the last day, ETH is inching closer to a critical resistance point: $4,000. This climb comes amidst a wave of optimism surrounding the Ethereum network, fueled by a confluence of factors. Related Reading: Bitcoin Bulls On Alert: Top Analyst Anticipates A Big Spike In The Cards Ethereum Whale Activity, On-Chain Buying Signal Potential Rally Market analysts are attributing the recent surge to a significant rise in Ethereum accumulation. According to data from blockchain tracking company Spot On Chain, wallets linked to PulseChain and PulseX have been aggressively buying ETH, accumulating a staggering 163,295 ETH in just four days. This substantial buying pressure, totaling nearly $621 million DAI, suggests a strong foundation for a potential price increase. Furthermore, more than $10 billion whale trade volume recorded overnight indicates a shift in sentiment among major investors. This hefty trade volume is seen as a bullish signal, suggesting that whales are accumulating ETH in anticipation of a price upswing. Ethereum Investors Buoyed By Profitability, Approaching ATH Adding fuel to the fire, over 94% of ETH addresses are currently in profit. This translates to a significant number of investors holding onto their ETH, creating low selling pressure and potentially paving the way for a price increase. Data from IntoTheBlock (ITB), a cryptocurrency analytics platform, indicates that at this point, ETH is at its best level in nearly a year, but it is clearly trailing the upward trend that Bitcoin experienced once its spot Exchange-Traded Fund obtained approval. Source: IntoTheBlock Moreover, the excitement surrounding Ethereum is palpable as the price approaches its all-time high (ATH) of $4,890. With minimal resistance anticipated, a retest of the ATH seems like a realistic possibility in the near future. This prospect is further amplified by the dwindling number of addresses holding ETH at a break-even point or at a loss. Dencum Upgrade And ETF Speculation Stoke Investor Confidence Beyond the immediate price action, the Ethereum community is buzzing with anticipation about the upcoming Dencum upgrade. This highly anticipated upgrade is designed to address scalability issues, reduce transaction fees on layer networks, and decongest the Ethereum network. A successful Dencum upgrade is expected to significantly improve the overall user experience and potentially attract new investors, bolstering confidence in the long-term viability of the Ethereum network. Total crypto market cap is currently at $2.5 trillion. Chart: TradingView Adding another layer of optimism is the ongoing speculation surrounding a potential Ethereum ETF. While regulatory approval from the SEC is still pending, the very possibility of an ETF has buoyed investor sentiment. An ETF would allow traditional investors to gain exposure to Ethereum without the complexities of directly owning and managing cryptocurrency, potentially leading to a wider investor base and increased demand for ETH. A Look Ahead: Ether Trajectory Hinges On Multiple Factors While the outlook for Ethereum appears bright, there are still factors to consider. The price of ETH remains roughly $1,000 shy of its ATH, and the success of the Dencum upgrade and the approval of an Ethereum ETF are not guaranteed. As with any investment, conducting thorough research and maintaining a cautious approach is crucial. Related Reading: Don\u2019t Miss Out: XRP Bull Flag Signals Explosive Price Movement However, the confluence of rising on-chain activity, whale accumulation, and a profitable investor base paints a promising picture for Ethereum. With the Dencum upgrade on the horizon and the possibility of an ETF, Ethereum appears poised for a potential price rally in the coming months. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":597098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1020,6664,1946,2888],"class_list":["post-597063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-blockchain","tag-crypto","tag-ethereum","tag-market-analysis"],"acf":[],"yoast_head":"\nEthereum Wallets Overflow: Over 90% Addresses In Profit<\/title>\n<meta name=\"description\" content=\"Cryptocurrency enthusiasts are celebrating a bullish weekend for Ethereum (ETH), the world's second-largest cryptocurrency by market capitalization. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Wallets Overflow: Over 90% Addresses In Profit, Ether To Retest ATH","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-wallets-overflow-over-90-addresses-in-profit-ether-to-retest-ath\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-wallets-overflow-over-90-addresses-in-profit-ether-to-retest-ath\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/a_8d242e.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/a_8d242e.jpg?fit=5184%2C3564"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain","crypto","ethereum","market analysis"],"dateCreated":"2024-03-09T09:53:26Z","datePublished":"2024-03-09T09:53:26Z","dateModified":"2024-03-09T09:54:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Wallets Overflow: Over 90% Addresses In Profit, Ether To Retest ATH\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-wallets-overflow-over-90-addresses-in-profit-ether-to-retest-ath\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-wallets-overflow-over-90-addresses-in-profit-ether-to-retest-ath\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/a_8d242e.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/a_8d242e.jpg?fit=5184%2C3564\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain\",\"crypto\",\"ethereum\",\"market analysis\"],\"dateCreated\":\"2024-03-09T09:53:26Z\",\"datePublished\":\"2024-03-09T09:53:26Z\",\"dateModified\":\"2024-03-09T09:54:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/03\/a_8d242e.jpg?fit=5184%2C3564","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/597063"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=597063"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/597063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/597098"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=597063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=597063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=597063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}