Opinion: Ethereum network growth reaches a four-month high, ETH price may rise to $3900
Recently, the market intelligence platform Santiment revealed positive changes in the Ethereum network on Platform X. According to data from SanbasePro, the growth level of the Ethereum network has significantly increased, indicating that cryptocurrency will become active again and is expected to show a bullish trend. It was reported that on September 8th, approximately 126,210 new wallet addresses were created on the Ethereum network. Surprisingly, despite Sunday usually being the least active day of the week, this network still recorded its highest growth momentum in four months and set a new milestone. Cryptocurrency analyst trader Tardigrade believes that Ethereum's price trend has entered a "double bottom" pattern or "W structure", which may indicate an imminent reversal in its price; this increase could potentially push Ethereum's price up to $3,900 USD. Another crypto analyst AliMartinez disclosed that Ethereum whales might have lost interest in cryptocurrency and pointed out they stopped accumulating ETH at beginning of July then shifted towards selling or redistributing their held assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Alpha Metallurgical director Kenneth S. Courtis acquires shares worth $2,742,779.54
"After a magnitude 7 earthquake, there will certainly be aftershocks"? After major AI losses in July, hedge funds suffered another heavy blow on Wednesday.
According to data from Goldman Sachs, systematic long-short funds experienced a single-day decline of 1.4% on Wednesday, while the Morgan Stanley "Pure Momentum" Index saw its first single-day drop of over 4% in five years. The trigger was the U.S. Treasury expanding bond purchases and a skyrocketing share price of Moderna. Industry insiders compared the current predicament to "aftershocks following a magnitude 7 earthquake," with all parties simultaneously deleveraging and reducing risk exposure, which is intensifying market volatility and creating a negative feedback loop.
PPX Mining settles USD 860,093 debt with 6,533,921 shares at CAD 0.19 each
Crypto prices
More
