Ethereum (ETH), the world’s second-largest cryptocurrency, is showing signs of potential significant growth, according to recent market metrics.
Increase in Ethereum Futures Volume
Ethereum stands out as the only top 10 non-stablecoin asset with a 27% increase in futures volume over the last 24 hours, according to data from Glassnode. Open interest has also risen by 6%, while funding remains neutral at 0.0047%, indicating fresh positioning without signs of excessive leverage.
Analysts' Predictions for Rise to $4000
Popular crypto analyst Kaleo expressed his opinion about a potential explosive movement in price that could propel Ethereum to $4000 this week. 'God candle to $4000 this week. Honestly though, wouldn’t be surprised if we see something like this play out after today’s news,' he noted.
Current Ethereum Price and Recent Buyers
Currently, the price of Ethereum is $3185, marking a 4.32% increase from the previous day and a 20% increase over the past week. This growth has occurred amid interest from publicly traded companies in accumulating ETH. SharpLink Gaming purchased $225 million worth of Ethereum earlier this month, becoming the largest public company holding ETH with a total of 280,000 ETH.
Given the recent trends and market activity, Ethereum could be on the path to significant price increases in the short term.
