Ethereum has recently garnered attention due to two key market trends: the movement of large holdings and a substantial rise in trading volume.
Ethereum Trading Volume Surge
An ICO participant who had remained inactive for over two years transferred 3,510 ETH worth $9.12 million into Kraken. This transaction marks a renewed focus from larger holders on Ethereum’s market direction. At the current price of $2,656.39, Ethereum has risen by 3.02%. One notable trend is the sharp 79.30% increase in trading volume, now standing at $28.21 billion. Volume surges like this often suggest increased trading activity, though sustained price movement depends on follow-through buying.
Ethereum Network Metrics
Ethereum’s Net Network Growth remains largely unchanged at 0.19%, indicating stable user activity. Meanwhile, 11.21% of Ethereum holders are currently in profit, based on the 'In the Money' metric, which can reduce immediate selling pressure. Whale transactions and accumulation patterns remain steady, with no large shifts observed in recent days. The Long/Short Ratio reveals that 52.28% of traders are holding long positions, indicating a slight majority betting on Ethereum’s price rise, compared to 47.72% shorting the asset.
Current Ethereum Price
The current price of Ethereum (ETH) is $2,617.78, with a 0.19% increase in the past hours. The day’s range is between $2,614.22 and $2,647.91, and the 24-hour trading volume is $19.30 billion USD. Over the past year, Ethereum’s price has fluctuated between $1,523.24 and $4,092.28.
The 79% surge in trading volume signals increased trader activity and interest in Ethereum. However, sustained price movement will require continued buying activity and stable market conditions.
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