All articles tagged with #eth price
Ether is experiencing a historic short squeeze, with a potential 10% price increase to $4,000 that could liquidate an additional $1 billion in shorts, reinforcing its bullish momentum and marking a significant event in crypto history.
The Ethereum NFT market has experienced a significant slump, with sales dropping by 55% and popular collections like BAYC and Crypto Punks seeing over 40% declines. Despite this, ETH's price has remained relatively stable, though network growth and daily active addresses have decreased. The waning interest in Ethereum's ecosystem could pose long-term challenges, although the high MVRV ratio and presence of long-term holders suggest a large sell-off is unlikely in the near future.
The Ethereum Foundation has transferred 15,000 ETH to a Kraken deposit address, fueling speculation of a potential price dip. Previous large-scale ETH selloffs by the foundation have been connected to market downturns. However, there are still bullish indicators for ETH, including a reduction in ETH supply on exchanges, an increase in whale accumulation, and an increase in ETH staked since the Shapella upgrade. The foundation has costs to cover, including paying developers and investing in the wider crypto ecosystem. Readers are advised to verify facts independently before making any decisions based on this content.